Gilead Sciences (NASDAQ:GILD) Releases FY 2022 Earnings Guidance

Gilead Sciences (NASDAQ:GILD – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.35-$6.75 for the period, compared to the consensus estimate of $6.57. The company issued revenue guidance of $24.50 billion-$25.00 billion, compared to the consensus revenue estimate of $24.57 billion. Gilead Sciences also updated its FY22 guidance to $6.35-6.75 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GILD shares. StockNews.com downgraded Gilead Sciences from a strong-buy rating to a buy rating in a research note on Thursday. Morgan Stanley lifted their target price on shares of Gilead Sciences from $63.00 to $65.00 and gave the stock an equal weight rating in a research report on Friday, July 15th. Royal Bank of Canada lifted their target price on shares of Gilead Sciences from $76.00 to $77.00 and gave the stock an outperform rating in a research report on Tuesday, April 12th. Piper Sandler dropped their target price on shares of Gilead Sciences from $73.00 to $69.00 and set a neutral rating on the stock in a research report on Monday, May 16th. Finally, BMO Capital Markets started coverage on shares of Gilead Sciences in a research report on Tuesday, June 7th. They set a hold rating and a $63.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $72.07.

Gilead Sciences Stock Down 1.3 %

Shares of NASDAQ:GILD traded down $0.82 during trading on Friday, reaching $61.09. 6,034,024 shares of the stock traded hands, compared to its average volume of 9,087,971. The stock has a 50-day moving average of $61.55 and a two-hundred day moving average of $61.93. Gilead Sciences has a 52-week low of $57.17 and a 52-week high of $74.12. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.30 and a current ratio of 1.49. The stock has a market cap of $76.63 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 0.63 and a beta of 0.34.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 4.78%. The ex-dividend date is Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is currently 89.02%.

Institutional Investors Weigh In On Gilead Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cowa LLC bought a new position in Gilead Sciences in the first quarter worth approximately $132,000. Eudaimonia Partners LLC bought a new position in Gilead Sciences in the first quarter worth approximately $203,000. Golden State Wealth Management LLC bought a new position in Gilead Sciences in the first quarter worth approximately $223,000. Nations Financial Group Inc. IA ADV raised its position in shares of Gilead Sciences by 35.1% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 4,196 shares of the biopharmaceutical company’s stock valued at $249,000 after purchasing an additional 1,091 shares during the period. Finally, Kidder Stephen W bought a new stake in shares of Gilead Sciences during the 1st quarter valued at $305,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.

About Gilead Sciences

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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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.