Teva Pharmaceutical Industries (NYSE:TEVA) Updates FY24 Earnings Guidance

Teva Pharmaceutical Industries (NYSE:TEVA) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.40-2.50 for the period, compared to the consensus earnings per share estimate of $2.45. The company issued revenue guidance of $16.10-16.50 billion, compared to the consensus revenue estimate of $16.27 billion. Teva Pharmaceutical Industries also updated its FY 2024 guidance to 2.400-2.500 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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. JPMorgan Chase & Co. raised their price objective on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Barclays raised their price target on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Two 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’s stock. According to MarketBeat, Teva Pharmaceutical Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Teva Pharmaceutical Industries Price Performance

NYSE:TEVA traded down $0.37 during trading hours on Friday, hitting $17.13. 4,836,206 shares of the company were exchanged, compared to its average volume of 9,286,541. The company’s 50 day moving average price is $17.98 and its 200-day moving average price is $17.07. Teva Pharmaceutical Industries has a 52-week low of $8.55 and a 52-week high of $19.31. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 2.52.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its 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 firm 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, equities analysts anticipate that Teva Pharmaceutical Industries will post 2.34 earnings per share for the current fiscal year.

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.