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

Gilead Sciences (NASDAQ:GILD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.450-3.850 for the period, compared to the consensus 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

GILD has been the subject of a number of research reports. Barclays reduced their price objective on Gilead Sciences from $85.00 to $80.00 and set an equal weight rating for the company in a research report on Monday, February 12th. Morgan Stanley reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research report on Friday. Wells Fargo & Company reduced their price objective on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating for the company in a research report on Monday, March 4th. UBS Group reduced their price objective on Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Finally, Mizuho reduced their price objective on Gilead Sciences from $101.00 to $90.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Gilead Sciences currently has a consensus rating of Hold and an average price target of $83.87.

Gilead Sciences Price Performance

Shares of NASDAQ GILD traded up $0.15 during mid-day trading on Friday, reaching $65.42. The company’s stock had a trading volume of 12,382,425 shares, compared to its average volume of 6,443,315. The firm has a market capitalization of $81.45 billion, a PE ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The stock has a fifty day moving average of $71.28 and a two-hundred day moving average of $76.25. Gilead Sciences has a 52 week low of $64.63 and a 52 week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 23.08% and a net margin of 1.76%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 earnings per share. As a group, sell-side analysts anticipate that Gilead Sciences will post 4.2 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.16% 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.