Gilead Sciences (NASDAQ:GILD) Updates FY24 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.45-3.85 for the period, compared to the consensus EPS estimate of $3.91. Gilead Sciences also updated its FY 2024 guidance to 3.450-3.850 EPS.

Gilead Sciences Stock Up 0.2 %

Shares of GILD stock traded up $0.15 during trading hours on Friday, reaching $65.42. The company had a trading volume of 12,382,425 shares, compared to its average volume of 6,443,315. The company has a market capitalization of $81.45 billion, a P/E ratio of 181.72, a price-to-earnings-growth ratio of 1.17 and a beta of 0.19. Gilead Sciences has a twelve month low of $64.63 and a twelve month high of $87.86. The stock’s fifty day simple moving average is $71.28 and its 200 day simple moving average is $76.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

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

Gilead Sciences Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a hold rating on shares of Gilead Sciences in a report on Friday. HSBC raised shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 target price for the company in a research report on Wednesday. Mizuho reduced their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a buy rating for the company in a research note on Thursday, February 22nd. Cantor Fitzgerald cut their target price on Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a report on Wednesday, February 7th. Finally, StockNews.com upgraded Gilead Sciences from a buy rating to a strong-buy rating in a research note on Saturday. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $83.87.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were 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 owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.