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

Teva Pharmaceutical Industries (NYSE:TEVA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.200-2.500 for the period, compared to the consensus estimate of 2.410. The company issued revenue guidance of $15.7 billion-$16.3 billion, compared to the consensus revenue estimate of $15.9 billion.

Teva Pharmaceutical Industries Stock Performance

Teva Pharmaceutical Industries stock traded up $1.89 during midday trading on Wednesday, reaching $15.84. 22,089,727 shares of the company’s stock were exchanged, compared to its average volume of 10,595,355. Teva Pharmaceutical Industries has a 52 week low of $7.09 and a 52 week high of $15.88. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of -33.13, a P/E/G ratio of 1.67 and a beta of 1.04. The stock’s 50-day simple moving average is $13.64 and its 200 day simple moving average is $11.69. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.69 and a current ratio of 1.02.

Analysts Set New Price Targets

TEVA has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of Teva Pharmaceutical Industries from an underweight rating to a neutral rating and set a $14.00 price objective for the company in a research report on Friday, March 8th. Barclays boosted their price objective on Teva Pharmaceutical Industries from $15.00 to $17.00 and gave the stock an overweight rating in a research report on Monday, February 5th. StockNews.com upgraded Teva Pharmaceutical Industries from a buy rating to a strong-buy rating in a research note on Thursday, February 1st. Piper Sandler upgraded Teva Pharmaceutical Industries from a neutral rating to an overweight rating and boosted their price objective for the company from $12.00 to $19.00 in a research note on Monday, February 12th. Finally, The Goldman Sachs Group increased their target price on shares of Teva Pharmaceutical Industries from $10.00 to $11.00 and gave the stock a neutral rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Teva Pharmaceutical Industries currently has a consensus rating of Moderate Buy and a consensus target price of $13.78.

Insider Activity

In related news, CEO Richard D. Francis sold 74,530 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $13.15, for a total value of $980,069.50. Following the transaction, the chief executive officer now owns 87,125 shares in the company, valued at approximately $1,145,693.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Teva Pharmaceutical Industries news, CEO Richard D. Francis sold 74,530 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $13.15, for a total transaction of $980,069.50. Following the transaction, the chief executive officer now owns 87,125 shares of the company’s stock, valued at $1,145,693.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Drape sold 9,815 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $13.12, for a total transaction of $128,772.80. Following the transaction, the vice president now directly owns 9,701 shares of the company’s stock, valued at $127,277.12. The disclosure for this sale can be found here. Insiders sold 358,972 shares of company stock worth $4,739,820 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

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.