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 earnings per share guidance of 2.300-2.500 for the period, compared to the consensus earnings per share estimate of 2.340. The company issued revenue guidance of $16.0 billion-$16.4 billion, compared to the consensus revenue estimate of $16.0 billion. Teva Pharmaceutical Industries also updated its FY24 guidance to $2.30-2.50 EPS.

Teva Pharmaceutical Industries Stock Down 3.1 %

Shares of NYSE TEVA traded down $0.55 during mid-day trading on Friday, hitting $16.99. The company had a trading volume of 12,080,645 shares, compared to its average volume of 10,327,264. Teva Pharmaceutical Industries has a 1-year low of $8.06 and a 1-year high of $18.02. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.89 and a quick ratio of 0.61. The company has a market capitalization of $19.24 billion, a PE ratio of -41.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.90. The business’s 50-day simple moving average is $16.79 and its 200 day simple moving average is $14.74.

Teva Pharmaceutical Industries (NYSE:TEVA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Teva Pharmaceutical Industries had a negative net margin of 2.73% and a positive return on equity of 39.66%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.70 billion. On average, analysts predict that Teva Pharmaceutical Industries will post 2.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America raised their price target on Teva Pharmaceutical Industries from $18.00 to $21.00 and gave the company a buy rating in a research note on Thursday, May 30th. Piper Sandler reaffirmed an overweight rating and set a $20.00 price objective (up previously from $19.00) on shares of Teva Pharmaceutical Industries in a report on Monday, May 13th. Barclays raised their price objective on Teva Pharmaceutical Industries from $21.00 to $22.00 and gave the stock an overweight rating in a report on Thursday. Argus raised Teva Pharmaceutical Industries from a hold rating to a buy rating and set a $20.00 price objective on the stock in a report on Wednesday, July 10th. Finally, UBS Group raised their price target on Teva Pharmaceutical Industries from $22.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Two 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 company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $18.67.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other Teva Pharmaceutical Industries news, insider Vikki L. Conway sold 15,219 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $16.74, for a total value of $254,766.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Teva Pharmaceutical Industries news, insider Vikki L. Conway sold 15,219 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $16.74, for a total value of $254,766.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roberto Mignone sold 519,000 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $17.03, for a total transaction of $8,838,570.00. Following the sale, the director now owns 981,000 shares of the company’s stock, valued at $16,706,430. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 549,719 shares of company stock valued at $9,353,736. 0.55% of the stock is owned by corporate 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.