Gilead Sciences (NASDAQ:GILD) Releases 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GILD shares. Oppenheimer reiterated an outperform rating and issued a $105.00 target price on shares of Gilead Sciences in a research report on Friday, April 19th. Wells Fargo & Company lowered their price target 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. Barclays cut their price target on Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a research report on Monday, February 12th. Needham & Company LLC reissued a hold rating on shares of Gilead Sciences in a report on Friday. Finally, Cantor Fitzgerald dropped 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. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $83.87.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $0.15 during midday 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 company 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 has a 12-month low of $64.63 and a 12-month high of $87.86. The business’s 50 day simple moving average is $71.28 and its 200 day simple moving average is $76.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last issued its 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. 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. During the same period in the prior year, the business earned $1.37 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts forecast that Gilead Sciences will post 4.2 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred 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 sale, 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 filing with the SEC, which can be accessed through this link. Corporate 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.