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

Gilead Sciences (NASDAQ:GILD) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GILD. HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price target on the stock in a research note on Wednesday. Morgan Stanley cut their price target on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research note on Friday. Barclays lowered their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a research note on Monday, February 12th. Truist Financial lowered shares of Gilead Sciences from a buy rating to a hold rating and cut their target price for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. Finally, Cantor Fitzgerald decreased their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a research report on Wednesday, February 7th. Eleven 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $83.87.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $0.15 during trading on Friday, hitting $65.42. 12,382,425 shares of the company’s stock were exchanged, compared to its average volume of 6,443,315. 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 market cap of $81.45 billion, a price-to-earnings ratio of 181.72, a PEG ratio of 1.17 and a beta of 0.19. Gilead Sciences has a 52-week low of $64.63 and a 52-week high of $87.86. 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 (NASDAQ:GILD) last announced its quarterly earnings data 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. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period last year, the firm posted $1.37 EPS. The company’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict 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. Shareholders of record on Friday, June 14th will be paid 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 payout ratio is currently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.