Teva Pharmaceutical Industries (NYSE:TEVA) Issues FY 2024 Earnings Guidance

Teva Pharmaceutical Industries (NYSE:TEVA) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.300-2.500 for the period, compared to the consensus EPS estimate of 2.340. The company issued revenue guidance of $16.0 billion-$16.4 billion, compared to the consensus revenue estimate of $16.0 billion. Teva Pharmaceutical Industries also updated its FY24 guidance to $2.30-2.50 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TEVA. Bank of America lifted their target price on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a buy rating in a research report on Thursday, May 30th. StockNews.com raised Teva Pharmaceutical Industries from a buy rating to a strong-buy rating in a research report on Saturday. Barclays lifted their target price on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an overweight rating in a research report on Thursday. Argus raised Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Wednesday, July 10th. Finally, Piper Sandler reaffirmed an overweight rating and set a $20.00 target price (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $18.67.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA traded down $0.55 during mid-day trading on Friday, hitting $16.99. 12,080,645 shares of the stock traded hands, compared to its average volume of 10,327,264. The business’s 50-day moving average price is $16.79 and its 200 day moving average price is $14.74. The company has a market cap of $19.24 billion, a PE ratio of -41.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.90. Teva Pharmaceutical Industries has a 12-month low of $8.06 and a 12-month high of $18.02. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 2.52.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Teva Pharmaceutical Industries had a positive return on equity of 39.66% and a negative net margin of 2.73%. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.70 billion. On average, analysts expect that Teva Pharmaceutical Industries will post 2.32 EPS for the current fiscal year.

Insider Activity at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Vikki L. Conway sold 15,219 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.74, for a total transaction of $254,766.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Vikki L. Conway sold 15,219 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $16.74, for a total value of $254,766.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roberto Mignone sold 519,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the completion of the sale, the director now directly owns 981,000 shares in the company, valued at $16,706,430. The disclosure for this sale can be found here. Insiders sold 549,719 shares of company stock worth $9,353,736 in the last three months. 0.55% of the stock is owned by insiders.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.