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

Teva Pharmaceutical Industries (NYSE:TEVA) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Teva Pharmaceutical Industries Stock Up 0.7 %

Shares of TEVA stock opened at $18.78 on Wednesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.59 and a current ratio of 0.89. Teva Pharmaceutical Industries has a twelve month low of $8.55 and a twelve month high of $19.08. The business has a fifty day simple moving average of $18.03 and a 200 day simple moving average of $17.06.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays increased their target price on Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group increased their target price on Teva Pharmaceutical Industries from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com upgraded Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Argus upgraded Teva Pharmaceutical Industries from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on Teva Pharmaceutical Industries from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average 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.