Gilead Sciences (NASDAQ:GILD) Updates FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Gilead Sciences Trading Up 0.2 %

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 firm has a market capitalization of $81.45 billion, a P/E ratio of 181.72, a price-to-earnings-growth 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. Gilead Sciences has a 52-week low of $64.63 and a 52-week high of $87.86. The stock’s fifty day simple moving average is $71.28 and its two-hundred day simple moving average is $76.25.

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

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a dividend of $0.77 per share. 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 (DPR) is 855.56%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GILD. Morgan Stanley reduced their target price on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research note on Friday. UBS Group lowered 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. Barclays cut their target price on shares of Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a report on Monday, February 12th. Cantor Fitzgerald lowered their target price on Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a report on Wednesday, February 7th. Finally, Mizuho cut their price target on Gilead Sciences from $101.00 to $90.00 and set a buy rating on the stock in a report on Thursday, February 22nd. Eleven 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. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $83.87.

Insider Buying and Selling at Gilead Sciences

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

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.