Gilead Sciences (NASDAQ:GILD) Issues FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.25-4.45 for the period, compared to the consensus estimate of $3.80. The company issued revenue guidance of $27.8-28.1 billion, compared to the consensus revenue estimate of $27.73 billion. Gilead Sciences also updated its FY 2024 guidance to 4.250-4.450 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research note on Friday. Oppenheimer lifted their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday. Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Finally, Robert W. Baird boosted their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.71.

Gilead Sciences Trading Down 1.4 %

Shares of NASDAQ GILD traded down $1.34 during midday trading on Friday, hitting $96.57. The company’s stock had a trading volume of 7,456,749 shares, compared to its average volume of 7,048,514. The business’s 50 day moving average is $85.30 and its two-hundred day moving average is $75.03. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.32. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The firm has a market cap of $120.22 billion, a P/E ratio of 117.76, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, equities research analysts expect that Gilead Sciences will post 3.75 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.19%. Gilead Sciences’s dividend payout ratio (DPR) is 375.61%.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,437 shares of company stock worth $5,374,825 in the last three months. Corporate insiders own 0.29% 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.