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

Teva Pharmaceutical Industries (NYSE:TEVA) posted its quarterly earnings data on Wednesday. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04, reports. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Teva Pharmaceutical Industries had a negative net margin of 5.73% and a positive return on equity of 41.43%. 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 Trading Down 1.9 %

NYSE TEVA traded down $0.33 on Friday, hitting $17.17. 1,516,750 shares of the stock were exchanged, compared to its average volume of 9,271,244. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. The business’s fifty day moving average is $17.98 and its 200 day moving average is $17.07. Teva Pharmaceutical Industries has a 52 week low of $8.55 and a 52 week high of $19.31.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Several hedge funds have recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in Teva Pharmaceutical Industries during the first quarter worth $28,000. EntryPoint Capital LLC acquired a new stake in shares of Teva Pharmaceutical Industries during the 1st quarter worth about $30,000. UMB Bank n.a. boosted its holdings in shares of Teva Pharmaceutical Industries by 555.6% during the 3rd quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock worth $44,000 after buying an additional 2,067 shares during the period. Beach Investment Counsel Inc. PA acquired a new position in Teva Pharmaceutical Industries in the 2nd quarter valued at about $48,000. Finally, Byrne Asset Management LLC bought a new position in Teva Pharmaceutical Industries in the 2nd quarter valued at about $52,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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