Gilead Sciences (NASDAQ:GILD) Releases FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.45-3.85 for the period, compared to the consensus estimate of $3.91. Gilead Sciences also updated its FY 2024 guidance to 3.450-3.850 EPS.

Analyst Ratings Changes

Several research firms have weighed in on GILD. Truist Financial cut Gilead Sciences from a buy rating to a hold rating and cut their price objective for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. UBS Group decreased their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a report on Wednesday, April 17th. HSBC upgraded shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price objective for the company in a report on Wednesday. Barclays decreased their target price on shares of Gilead Sciences from $85.00 to $80.00 and set an equal weight rating for the company in a research note on Monday, February 12th. Finally, Royal Bank of Canada decreased their target price on shares of Gilead Sciences from $76.00 to $75.00 and set a sector perform rating for the company in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $84.57.

Gilead Sciences Stock Down 2.7 %

Shares of GILD stock traded down $1.81 during trading on Thursday, hitting $65.27. 13,992,527 shares of the company were exchanged, compared to its average volume of 7,400,993. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The firm has a market capitalization of $81.27 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.96 and a beta of 0.19. The business’s 50-day simple moving average is $71.56 and its 200 day simple moving average is $76.39. Gilead Sciences has a twelve month low of $65.09 and a twelve month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts forecast that Gilead Sciences will post 5.24 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.72%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is presently 68.44%.

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 transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.