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

Gilead Sciences (NASDAQ:GILD) released its earnings results on Thursday. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17, Briefing.com reports. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. Gilead Sciences’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. 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 Performance

Shares of GILD stock traded down $1.81 during trading hours on Thursday, hitting $65.27. 15,163,484 shares of the company were exchanged, compared to its average volume of 7,415,576. The firm has a fifty day simple moving average of $71.56 and a 200 day simple moving average of $76.39. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 52-week low of $65.09 and a 52-week high of $87.86. The stock has a market capitalization of $81.27 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.96 and a beta of 0.19.

Gilead Sciences Increases Dividend

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

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada lowered their target price on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 14th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a research report on Friday, April 19th. StockNews.com downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Mizuho cut their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and cut their price target for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.57.

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.