Prague-based Pale Fire Capital SE increased its stake in Teva (NYSE:TEVA) by 639,162 shares in the third quarter, adding $16.53 million in value as per its November 13 SEC filing. The fund now holds nearly 1.7 million Teva shares worth $34.13 million.

Teva shares are currently priced at $31.89, up 41% over the past year, outperforming the S&P 500 by 26%. The company offers a diverse range of generic and specialty pharmaceuticals globally, serving healthcare providers, hospitals, and wholesalers.

Teva, a leading global pharmaceutical company, specializes in generic and specialty medicines for various therapeutic areas. With a broad product base and international presence, Teva focuses on delivering affordable healthcare solutions and leveraging its research capabilities.

After a significant decline, Teva’s stock is trading at a discount to its past highs. The company has shown operational stability and progress in margins and cash generation. With a reduced net debt and diversified product portfolio, Teva is positioned for potential growth and re-rating.

Pale Fire Capital SE’s top holdings include NYSEMKT: BTG, NASDAQ: GRPN, NYSE: DOLE, NYSE: IAG, and NYSEMKT: NGD. Teva represents 3.74% of the fund’s 13F assets, signaling confidence in the pharmaceutical company’s long-term potential and value.

Read more at Yahoo Finance: Why a $34 Million Teva Stock Position Signals Confidence in a Long Repair Story