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

Teva Pharmaceutical Industries (NYSE:TEVA) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.400-2.500 for the period, compared to the consensus EPS estimate of 2.450. The company issued revenue guidance of $16.1 billion-$16.5 billion, compared to the consensus revenue estimate of $16.3 billion. Teva Pharmaceutical Industries also updated its FY24 guidance to $2.40-2.50 EPS.

Teva Pharmaceutical Industries Stock Performance

TEVA traded down $0.36 during trading on Friday, hitting $17.14. The stock had a trading volume of 3,639,481 shares, compared to its average volume of 9,281,026. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. Teva Pharmaceutical Industries has a 12 month low of $8.55 and a 12 month high of $19.31. The company has a 50 day simple moving average of $17.98 and a 200-day simple moving average of $17.07.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.08 billion. Teva Pharmaceutical Industries had a negative net margin of 5.73% and a positive return on equity of 41.43%. On average, sell-side analysts expect that Teva Pharmaceutical Industries will post 2.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TEVA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Barclays lifted their price target on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, UBS Group upped their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.67.

About Teva Pharmaceutical Industries

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.