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

Teva Pharmaceutical Industries (NYSE:TEVA) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Down 2.2 %

NYSE TEVA traded down $0.39 during trading hours on Friday, reaching $17.11. 3,087,303 shares of the company traded hands, compared to its average volume of 9,278,481. The company has a 50 day moving average of $17.98 and a two-hundred day moving average of $17.07. Teva Pharmaceutical Industries has a 12 month low of $8.55 and a 12 month high of $19.31. 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 (NYSE:TEVA) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.08 billion. Teva Pharmaceutical Industries had a positive return on equity of 41.43% and a negative net margin of 5.73%. As a group, analysts expect that Teva Pharmaceutical Industries will post 2.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target 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. 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 research note on Wednesday, October 23rd. StockNews.com raised shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, UBS Group increased their price objective on shares of Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.