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

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

Analysts Set New Price Targets

Several research firms recently commented on GILD. Morgan Stanley cut their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research note on Friday. Cantor Fitzgerald decreased their target price on Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a report on Wednesday, February 7th. Oppenheimer reaffirmed an outperform rating and set a $105.00 target price on shares of Gilead Sciences in a research report on Friday, April 19th. Needham & Company LLC reiterated a hold rating on shares of Gilead Sciences in a research report on Friday. Finally, UBS Group cut their price objective on 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of Hold and an average target price of $83.87.

Gilead Sciences Stock Performance

Shares of GILD stock traded up $0.15 during trading on Friday, reaching $65.42. The company had a trading volume of 12,382,425 shares, compared to its average volume of 6,443,315. The company has a market capitalization of $81.45 billion, a PE ratio of 181.72, a PEG ratio of 1.17 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The firm’s 50 day simple moving average is $71.28 and its two-hundred day simple moving average is $76.25. Gilead Sciences has a one year low of $64.63 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly 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. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 earnings per share. Sell-side analysts forecast that Gilead Sciences will post 4.2 earnings per share for the current 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 $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.71%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction 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 approximately $7,026,339.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by company 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.