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

Gilead Sciences (NASDAQ:GILD) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.450-3.850 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen reduced their target price on Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research report on Friday. HSBC upgraded shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 target price on the stock in a research report on Wednesday. StockNews.com raised shares of Gilead Sciences from a buy rating to a strong-buy rating in a research report on Saturday. Needham & Company LLC reaffirmed a hold rating on shares of Gilead Sciences in a report on Friday. Finally, Oppenheimer reiterated an outperform rating and issued a $105.00 price objective on shares of Gilead Sciences in a research note on Friday, April 19th. Eleven equities research 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. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $83.87.

Gilead Sciences Trading Up 0.2 %

Shares of Gilead Sciences stock traded up $0.15 during trading on Friday, reaching $65.42. 12,382,425 shares of the company were exchanged, compared to its average volume of 6,443,315. Gilead Sciences has a twelve month low of $64.63 and a twelve month high of $87.86. The business has a 50-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. The firm 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 posted its earnings results 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. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.37 earnings per share. Sell-side analysts anticipate that Gilead Sciences will post 3.82 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business 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. This represents a $3.08 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by 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.