Gilead Sciences (NASDAQ:GILD) Issues FY24 Earnings Guidance

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

Analysts Set New Price Targets

GILD has been the subject of a number of analyst reports. Cantor Fitzgerald cut their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a research report on Wednesday, February 7th. Truist Financial lowered Gilead Sciences from a buy rating to a hold rating and reduced their price target for the stock from $91.00 to $82.00 in a research note on Thursday, February 22nd. Barclays dropped their target price on Gilead Sciences from $85.00 to $80.00 and set an equal weight rating for the company in a research note on Monday, February 12th. Wells Fargo & Company decreased their price target on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating on the stock in a research note on Monday, March 4th. Finally, Needham & Company LLC reiterated a hold rating on shares of Gilead Sciences in a report on Friday. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $83.87.

Gilead Sciences Stock Up 0.2 %

Shares of GILD traded up $0.15 during midday trading on Friday, reaching $65.42. 12,382,425 shares of the company were exchanged, compared to its average volume of 6,443,315. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 1-year low of $64.63 and a 1-year high of $87.86. The company has a market cap of $81.45 billion, a price-to-earnings ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19. The stock has a 50-day moving average price of $71.28 and a 200-day moving average price of $76.25.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 23.08% and a net margin of 1.76%. The company had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Gilead Sciences will post 4.2 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.71%. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now directly 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 this link. 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.