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 guidance of 3.450-3.850 for the period, compared to the consensus earnings per share 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.

Gilead Sciences Stock Performance

GILD traded up $0.15 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 company’s 50 day simple moving average is $71.28 and its 200-day simple moving average is $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. Gilead Sciences has a 12 month low of $64.63 and a 12 month high of $87.86. The firm has a market cap 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.

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

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $0.77 per share. 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 dividend payout ratio is presently 855.56%.

Analyst Upgrades and Downgrades

GILD has been the subject of several recent analyst reports. HSBC raised shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price objective for the company in a research note on Wednesday. Barclays reduced their price target on shares of Gilead Sciences from $85.00 to $80.00 and set an equal weight rating for the company in a research report on Monday, February 12th. Wells Fargo & Company lowered their price objective on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating on the stock in a research report on Monday, March 4th. Royal Bank of Canada decreased their target price on Gilead Sciences from $76.00 to $74.00 and set a sector perform rating on the stock in a research note on Friday. Finally, TD Cowen dropped their price target on Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research report on Friday. Eleven equities research 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. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $83.87.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following 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 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.