Gilead Sciences (NASDAQ:GILD) Releases FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) issued an update on its FY24 earnings guidance on Thursday morning. 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

Several brokerages recently weighed in on GILD. TD Cowen reduced their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating on the stock in a research report on Friday. HSBC raised shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price target for the company in a report on Wednesday. Wells Fargo & Company decreased their price objective on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating on the stock in a research report on Monday, March 4th. StockNews.com raised Gilead Sciences from a buy rating to a strong-buy rating in a research report on Saturday. Finally, Royal Bank of Canada decreased their price objective on shares of Gilead Sciences from $76.00 to $74.00 and set a sector perform rating for the company in a research note on Friday. 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. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of Hold and an average price target of $83.87.

Gilead Sciences Trading Up 0.2 %

Shares of NASDAQ:GILD traded up $0.15 during trading on Friday, reaching $65.42. The stock had a trading volume of 12,382,425 shares, compared to its average volume of 6,443,315. Gilead Sciences has a fifty-two week low of $64.63 and a fifty-two week high of $87.86. The stock has a market cap of $81.45 billion, a P/E ratio of 181.72, a PEG ratio of 1.17 and a beta of 0.19. The business has a fifty day moving average price of $71.28 and a 200-day moving average price of $76.25. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the firm posted $1.37 EPS. The company’s revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Gilead Sciences will post 4.2 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm 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 dividend of $0.77 per share. 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 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently 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.