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.

Teva Pharmaceutical Industries Stock Performance

Teva Pharmaceutical Industries stock traded up $0.59 during mid-day trading on Wednesday, reaching $17.00. The company’s stock had a trading volume of 2,993,237 shares, compared to its average volume of 10,218,578. Teva Pharmaceutical Industries has a twelve month low of $8.06 and a twelve month high of $17.69. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of -40.02, a PEG ratio of 1.47 and a beta of 0.90. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 2.20. The business has a 50 day moving average price of $16.76 and a 200-day moving average price of $14.63.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.03). The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.70 billion. Teva Pharmaceutical Industries had a positive return on equity of 37.33% and a negative net margin of 2.88%. Sell-side analysts predict that Teva Pharmaceutical Industries will post 2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TEVA has been the subject of a number of research reports. Bank of America raised their target price on shares of Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the stock a buy rating in a report on Thursday, May 30th. StockNews.com raised shares of Teva Pharmaceutical Industries from a buy rating to a strong-buy rating in a research report on Thursday, July 25th. Jefferies Financial Group upped their target price on Teva Pharmaceutical Industries from $19.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Barclays increased their price target on Teva Pharmaceutical Industries from $20.00 to $21.00 and gave the company an overweight rating in a report on Wednesday, June 5th. Finally, Argus raised Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Wednesday, July 10th. Two investment 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. According to data from MarketBeat, Teva Pharmaceutical Industries presently has a consensus rating of Moderate Buy and a consensus target price of $18.56.

Insider Activity

In other news, Director Roberto Mignone sold 519,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total value of $8,838,570.00. Following the sale, the director now owns 981,000 shares in the company, valued at approximately $16,706,430. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Roberto Mignone sold 519,000 shares of the firm’s stock in a transaction on 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 directly owns 981,000 shares in the company, valued at $16,706,430. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $254,766.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 549,719 shares of company stock worth $9,353,736. Company insiders own 0.55% of the company’s stock.

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.