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 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.

Analysts Set New Price Targets

A number of brokerages have commented on GILD. Wells Fargo & Company decreased their price objective on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating for the company in a research report on Monday, March 4th. Royal Bank of Canada decreased their price target on shares of Gilead Sciences from $76.00 to $74.00 and set a sector perform rating for the company in a report on Friday. StockNews.com raised shares of Gilead Sciences from a buy rating to a strong-buy rating in a research report on Saturday. TD Cowen cut their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research report on Friday. Finally, UBS Group lowered their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $83.87.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.15 during mid-day trading on Friday, hitting $65.42. The company’s stock had a trading volume of 12,382,425 shares, 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 fifty-two week low of $64.63 and a fifty-two week high of $87.86. The stock has a fifty day moving average of $71.28 and a 200-day moving average of $76.25. The company has a market capitalization 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.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. As a group, equities analysts forecast that Gilead Sciences will post 4.2 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

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

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the completion of the transaction, the insider now owns 100,936 shares in the company, valued at approximately $7,386,496.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Company Profile

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.