Gilead Sciences (NASDAQ:GILD) Releases FY 2024 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.450-3.850 for the period, compared to the consensus estimate of 3.670. The company issued revenue guidance of $27.1 billion-$27.5 billion, compared to the consensus revenue estimate of $25.7 billion. Gilead Sciences also updated its FY24 guidance to $3.45-3.85 EPS.

Gilead Sciences Price Performance

NASDAQ GILD traded up $0.15 during trading on Friday, hitting $65.42. 12,382,425 shares of the company’s stock 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. The company has a market cap of $81.45 billion, a PE ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19. Gilead Sciences has a fifty-two week low of $64.63 and a fifty-two week high of $87.86. The stock’s 50 day moving average price is $71.28 and its two-hundred day moving average price is $76.25.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping 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 firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts expect that Gilead Sciences will post 4.2 EPS for the current year.

Gilead Sciences Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on GILD shares. Morgan Stanley reduced their target price on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating on the stock in a report on Friday. HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price target on the stock in a report on Wednesday. Royal Bank of Canada cut their price target on Gilead Sciences from $76.00 to $74.00 and set a sector perform rating on the stock in a report on Friday. Oppenheimer restated an outperform rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Finally, Barclays cut their price target on Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a report on Monday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $83.87.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

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.