Teva Pharmaceutical Industries (NYSE:TEVA) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Teva Pharmaceutical Industries (NYSE:TEVA) posted its earnings results on Wednesday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04, reports. Teva Pharmaceutical Industries had a negative net margin of 5.73% and a positive return on equity of 41.43%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Teva Pharmaceutical Industries updated its FY 2024 guidance to 2.400-2.500 EPS and its FY24 guidance to $2.40-2.50 EPS.

Teva Pharmaceutical Industries Price Performance

Shares of Teva Pharmaceutical Industries stock traded down $0.39 during trading hours on Friday, reaching $17.11. 6,225,171 shares of the company’s stock were exchanged, compared to its average volume of 9,292,936. Teva Pharmaceutical Industries has a 1 year low of $8.55 and a 1 year high of $19.31. The company has a market capitalization of $19.38 billion, a P/E ratio of -20.13, a price-to-earnings-growth ratio of 1.25 and a beta of 0.87. The business has a fifty day moving average of $17.94 and a two-hundred day moving average of $17.10. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 2.52.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Large investors have recently modified their holdings of the business. Maple Rock Capital Partners Inc. grew its holdings in shares of Teva Pharmaceutical Industries by 68.3% in the first quarter. Maple Rock Capital Partners Inc. now owns 4,363,401 shares of the company’s stock valued at $61,568,000 after purchasing an additional 1,770,000 shares during the period. National Pension Service grew its holdings in shares of Teva Pharmaceutical Industries by 107.3% in the third quarter. National Pension Service now owns 3,170,640 shares of the company’s stock valued at $57,135,000 after purchasing an additional 1,640,940 shares during the period. Iron Triangle Partners LP grew its holdings in shares of Teva Pharmaceutical Industries by 113.1% in the first quarter. Iron Triangle Partners LP now owns 2,769,864 shares of the company’s stock valued at $39,083,000 after purchasing an additional 1,469,864 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Teva Pharmaceutical Industries in the second quarter valued at about $23,115,000. Finally, Davidson Kempner Capital Management LP grew its holdings in shares of Teva Pharmaceutical Industries by 152.5% in the second quarter. Davidson Kempner Capital Management LP now owns 1,765,485 shares of the company’s stock valued at $28,689,000 after purchasing an additional 1,066,150 shares during the period. Hedge funds and other institutional investors own 54.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. 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 research report on Tuesday, September 3rd. Two research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.