Gilead Sciences (NASDAQ:GILD) Releases FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.45-3.85 for the period, compared to the consensus EPS estimate of $3.91. Gilead Sciences also updated its FY 2024 guidance to 3.450-3.850 EPS.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com upgraded Gilead Sciences from a buy rating to a strong-buy rating in a report on Saturday. Royal Bank of Canada decreased their price objective on Gilead Sciences from $76.00 to $74.00 and set a sector perform rating for the company in a report on Friday. HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price objective for the company in a report on Wednesday. Mizuho decreased their price objective on Gilead Sciences from $101.00 to $90.00 and set a buy rating for the company in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald decreased their price objective on Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a report on Wednesday, February 7th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences presently has a consensus rating of Hold and an average target price of $83.87.

Gilead Sciences Trading Up 0.2 %

Shares of NASDAQ GILD traded up $0.15 during midday trading on Friday, reaching $65.42. 12,382,425 shares of the stock were exchanged, compared to its average volume of 6,443,315. The company has a 50 day simple moving average of $71.28 and a 200 day simple moving average of $76.25. The stock has a market capitalization of $81.45 billion, a P/E ratio of 181.72, a PEG ratio of 1.17 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. Gilead Sciences has a twelve month low of $64.63 and a twelve month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter last year, the firm earned $1.37 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Gilead Sciences will post 3.82 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.71%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.