Teva Pharmaceutical Industries (NYSE:TEVA) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Teva Pharmaceutical Industries (NYSE:TEVA) issued its quarterly earnings data on Wednesday. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04, reports. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.08 billion. Teva Pharmaceutical Industries had a positive return on equity of 41.43% and a negative net margin of 5.73%. Teva Pharmaceutical Industries updated its FY 2024 guidance to 2.400-2.500 EPS and its FY24 guidance to $2.40-2.50 EPS.

Teva Pharmaceutical Industries Trading Down 1.9 %

TEVA traded down $0.33 during trading on Friday, hitting $17.17. 1,516,750 shares of the stock traded hands, compared to its average volume of 9,271,244. The business has a 50 day moving average price of $17.98 and a 200 day moving average price of $17.07. 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 has a twelve month low of $8.55 and a twelve month high of $19.31.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new stake in Teva Pharmaceutical Industries in the first quarter valued at about $28,000. EntryPoint Capital LLC bought a new position in shares of Teva Pharmaceutical Industries in the first quarter worth about $30,000. UMB Bank n.a. boosted its stake in shares of Teva Pharmaceutical Industries by 555.6% in the 3rd quarter. UMB Bank n.a. now owns 2,439 shares of the company’s stock valued at $44,000 after purchasing an additional 2,067 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of Teva Pharmaceutical Industries during the 2nd quarter valued at approximately $48,000. Finally, Byrne Asset Management LLC acquired a new position in Teva Pharmaceutical Industries during the 2nd quarter worth approximately $52,000. Institutional investors own 54.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TEVA. Barclays upped their price target on shares of Teva Pharmaceutical Industries from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group increased their target price 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. StockNews.com upgraded shares of Teva Pharmaceutical Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Teva Pharmaceutical Industries currently has an average rating of “Moderate Buy” and a consensus 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.