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 2.400-2.500 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

NYSE:TEVA traded down $0.39 on Friday, hitting $17.11. 3,087,303 shares of the company’s stock traded hands, compared to its average volume of 9,278,481. The firm has a 50-day moving average price of $17.98 and a 200-day moving average price of $17.07. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 2.52. Teva Pharmaceutical Industries has a 1 year low of $8.55 and a 1 year high of $19.31.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm 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%. Sell-side analysts expect that Teva Pharmaceutical Industries will post 2.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on TEVA shares. StockNews.com raised Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price 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 raised their price target on shares of Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, UBS Group increased their target price on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.67.

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.