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

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com lowered Gilead Sciences from a strong-buy rating to a buy rating in a research note on Friday, April 19th. Mizuho decreased their price objective on Gilead Sciences from $101.00 to $90.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. Cantor Fitzgerald decreased their price objective on Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a research report on Wednesday, February 7th. HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price objective on the stock in a research report on Wednesday. Finally, UBS Group decreased their price objective on Gilead Sciences from $81.00 to $75.00 and set a neutral rating on the stock in a research report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has an average rating of Hold and an average target price of $84.57.

Gilead Sciences Trading Down 2.7 %

Shares of NASDAQ GILD traded down $1.81 during midday trading on Thursday, hitting $65.27. The company’s stock had a trading volume of 14,015,084 shares, compared to its average volume of 7,401,275. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $71.56 and its two-hundred day moving average is $76.39. Gilead Sciences has a 12-month low of $65.09 and a 12-month high of $87.86. The firm has a market cap of $81.27 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 0.96 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. As a group, equities research analysts expect that Gilead Sciences will post 5.24 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.77 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 68.44%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction 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 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. 0.16% of the stock is currently owned by company insiders.

About Gilead Sciences

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.