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

Gilead Sciences (NASDAQ:GILD) updated its FY 2024 earnings guidance on Thursday. 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 equities research analysts have weighed in on the company. Cantor Fitzgerald cut their price target on Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company reduced their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an equal weight rating on the stock in a report on Monday, March 4th. Mizuho lowered their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a buy rating for the company in a report on Thursday, February 22nd. TD Cowen reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating on the stock in a report on Friday. Finally, 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 research report on Wednesday, April 17th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has a consensus rating of Hold and a consensus target price of $83.87.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded up $0.15 during midday trading on Friday, reaching $65.42. 12,382,425 shares of the company were exchanged, compared to its average volume of 6,443,315. The stock has a fifty day simple moving average of $71.28 and a 200 day simple moving average of $76.25. 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 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. Gilead Sciences has a 1 year low of $64.63 and a 1 year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a return on equity of 23.08% and a net margin of 1.76%. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Gilead Sciences will post 3.82 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Insider Transactions at Gilead Sciences

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

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.