Teva Pharmaceutical Industries (NYSE:TEVA) Issues 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 2.200-2.500 for the period, compared to the consensus earnings per share 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 stock traded up $1.89 during trading on Wednesday, hitting $15.84. 22,089,727 shares of the company’s stock traded hands, compared to its average volume of 10,595,355. The stock has a fifty day moving average price of $13.64 and a two-hundred day moving average price of $11.69. The company has a quick ratio of 0.69, a current ratio of 1.02 and a debt-to-equity ratio of 2.23. Teva Pharmaceutical Industries has a 52 week low of $7.09 and a 52 week high of $15.88. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of -33.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEVA. The Goldman Sachs Group increased their price target on Teva Pharmaceutical Industries from $10.00 to $11.00 and gave the stock a neutral rating in a research note on Monday, February 5th. Barclays boosted their target price on Teva Pharmaceutical Industries from $15.00 to $17.00 and gave the stock an overweight rating in a report on Monday, February 5th. Jefferies Financial Group upgraded shares of Teva Pharmaceutical Industries from a hold rating to a buy rating and raised their price objective for the company from $10.00 to $14.00 in a research report on Tuesday, January 23rd. Piper Sandler upgraded shares of Teva Pharmaceutical Industries from a neutral rating to an overweight rating and boosted their target price for the stock from $12.00 to $19.00 in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. upgraded shares of Teva Pharmaceutical Industries from an underweight rating to a neutral rating and set a $14.00 price target on the stock in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Teva Pharmaceutical Industries currently has a consensus rating of Moderate Buy and a consensus price target of $13.78.

Insiders Place Their Bets

In other news, VP Eric Drape sold 9,815 shares of the business’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 in the company, valued at approximately $127,277.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Mark Sabag sold 100,000 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $13.52, for a total value of $1,352,000.00. Following the transaction, the executive vice president now owns 382,590 shares of the company’s stock, valued at $5,172,616.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Eric Drape sold 9,815 shares of Teva Pharmaceutical Industries stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $13.12, for a total transaction of $128,772.80. Following the completion of the transaction, the vice president now owns 9,701 shares in the company, valued at approximately $127,277.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 358,972 shares of company stock worth $4,739,820. 0.55% of the stock is currently owned by company 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.