Gilead Sciences (NASDAQ:GILD) Issues Quarterly Earnings Results

Gilead Sciences (NASDAQ:GILD) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17, Briefing.com reports. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 EPS. Gilead Sciences updated its FY24 guidance to $3.45-3.85 EPS and its FY 2024 guidance to 3.450-3.850 EPS.

Gilead Sciences Trading Down 2.7 %

Shares of NASDAQ:GILD traded down $1.81 during mid-day trading on Thursday, reaching $65.27. 15,163,484 shares of the company’s stock were exchanged, compared to its average volume of 7,415,576. The firm has a market capitalization of $81.27 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.96 and a beta of 0.19. The business’s fifty day moving average price is $71.56 and its 200-day moving average price is $76.39. 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 has a twelve month low of $65.09 and a twelve month high of $87.86.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Thursday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s payout ratio is 68.44%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the transaction, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

GILD has been the subject of a number of analyst reports. Barclays decreased their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. StockNews.com cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 19th. UBS Group dropped their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald dropped their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $84.57.

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.