Teva Pharmaceutical Industries (NYSE:TEVA) Updates FY24 Earnings Guidance

Teva Pharmaceutical Industries (NYSE:TEVA) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.30-2.50 for the period, compared to the consensus estimate of $2.45. The company issued revenue guidance of $16.00-16.40 billion, compared to the consensus revenue estimate of $16.02 billion. Teva Pharmaceutical Industries also updated its FY 2024 guidance to 2.300-2.500 EPS.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TEVA shares. UBS Group boosted their target price on shares of Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of 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 on the stock in a research note on Wednesday, July 10th. Piper Sandler reiterated an overweight rating and issued a $20.00 price objective (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a research report on Monday, May 13th. Finally, Barclays boosted their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the company an overweight rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $18.67.

Teva Pharmaceutical Industries Price Performance

Shares of NYSE TEVA traded down $0.55 during midday trading on Friday, reaching $16.99. 12,080,645 shares of the company traded hands, compared to its average volume of 10,327,264. Teva Pharmaceutical Industries has a 12 month low of $8.06 and a 12 month high of $18.02. 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 stock’s 50-day simple moving average is $16.79 and its 200-day simple moving average is $14.71. The firm has a market cap of $19.24 billion, a PE ratio of -41.44, a PEG ratio of 1.54 and a beta of 0.90.

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). The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.70 billion. Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. As a group, equities analysts anticipate that Teva Pharmaceutical Industries will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In related news, CAO Amir Weiss sold 15,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $16.80, for a total transaction of $260,400.00. Following the transaction, the chief accounting officer now owns 17,814 shares in the company, valued at approximately $299,275.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Vikki L. Conway sold 15,219 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $16.74, for a total transaction of $254,766.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amir Weiss sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $16.80, for a total transaction of $260,400.00. Following the sale, the chief accounting officer now directly owns 17,814 shares of the company’s stock, valued at $299,275.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 549,719 shares of company stock worth $9,353,736. 0.55% of the stock is currently owned by insiders.

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.