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

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

Gilead Sciences Stock Up 0.2 %

NASDAQ:GILD traded up $0.15 during trading hours on Friday, hitting $65.42. 12,382,425 shares of the company traded hands, compared to its average volume of 6,443,315. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. The company has a market cap of $81.45 billion, a PE ratio of 181.72, a PEG ratio of 1.17 and a beta of 0.19. The firm’s 50-day simple moving average is $71.28 and its 200-day simple moving average is $76.25. Gilead Sciences has a one year low of $64.63 and a one year high of $87.86.

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

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $0.77 per share. 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 payout ratio is 855.56%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GILD shares. Oppenheimer restated an outperform rating and issued a $105.00 price objective on shares of Gilead Sciences in a research note on Friday, April 19th. UBS Group reduced their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Morgan Stanley lowered their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an equal weight rating on the stock in a research report on Friday. TD Cowen reduced their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research report on Friday. Finally, Royal Bank of Canada lowered their price target on shares of Gilead Sciences from $76.00 to $74.00 and set a sector perform rating on the stock in a report on Friday. Eleven 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 data from MarketBeat, the stock has an average rating of Hold and an average target price of $83.87.

Insider Buying and Selling

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