Gilead Sciences (NASDAQ:GILD) Releases FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.25-4.45 for the period, compared to the consensus EPS 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 Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald upped their price target on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein assumed coverage on Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $90.71.

Gilead Sciences Stock Down 1.4 %

Shares of GILD stock traded down $1.34 on Friday, hitting $96.57. 7,456,749 shares of the stock were exchanged, compared to its average volume of 7,048,514. The business has a 50-day moving average of $85.30 and a 200 day moving average of $75.03. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $98.32. The firm has a market capitalization 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. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly 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. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Gilead Sciences will post 3.75 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.77 per share. 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 presently 375.61%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,437 shares of company stock worth $5,374,825 in the last three months. Insiders own 0.29% of the company’s stock.

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.