Gilead Sciences (NASDAQ:GILD) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Gilead Sciences (NASDAQ:GILD) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17, Briefing.com reports. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same quarter last year, the company posted $1.37 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. 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 Stock Down 2.7 %

GILD traded down $1.81 during trading on Thursday, hitting $65.27. The company had a trading volume of 15,163,484 shares, compared to its average volume of 7,415,576. The company has a market cap of $81.27 billion, a PE ratio of 14.98, a P/E/G ratio of 0.96 and a beta of 0.19. Gilead Sciences has a 1-year low of $65.09 and a 1-year high of $87.86. The business has a 50-day moving average of $71.56 and a 200-day moving average of $76.39. 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 Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on GILD. 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 research report on Wednesday, April 17th. Wells Fargo & Company lowered their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Monday, March 4th. Barclays lowered their target price on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report 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. Finally, Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $84.57.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the transaction, the insider now owns 100,936 shares in the company, valued at $7,386,496.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate 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.