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

Teva Pharmaceutical Industries (NYSE:TEVA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.300-2.500 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com upgraded Teva Pharmaceutical Industries from a buy rating to a strong-buy rating in a research note on Saturday. Argus upgraded Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Wednesday, July 10th. Piper Sandler reiterated an overweight rating and issued a $20.00 price target (up from $19.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, May 13th. Bank of America lifted their price target 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. Finally, UBS Group lifted their price target on Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $18.67.

Teva Pharmaceutical Industries Price Performance

Teva Pharmaceutical Industries stock traded down $0.55 during midday trading on Friday, hitting $16.99. 12,080,645 shares of the company’s stock were exchanged, compared to its average volume of 10,327,264. Teva Pharmaceutical Industries has a 52-week low of $8.06 and a 52-week high of $18.02. The stock has a 50-day moving average price of $16.79 and a two-hundred day moving average price of $14.74. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.61 and a current ratio of 0.89. The company has a market cap of $19.24 billion, a P/E ratio of -41.44, a PEG ratio of 1.54 and a beta of 0.90.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, May 8th. The company reported $0.46 EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.70 billion. On average, equities research analysts forecast that Teva Pharmaceutical Industries will post 2.32 earnings per share for the current year.

Insider Transactions at Teva Pharmaceutical Industries

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