Gilead Sciences (NASDAQ:GILD) Updates 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 Performance

Shares of GILD traded down $1.81 during mid-day trading on Thursday, hitting $65.27. 14,015,084 shares of the company’s stock were exchanged, compared to its average volume of 7,401,275. Gilead Sciences has a fifty-two week low of $65.09 and a fifty-two week high of $87.86. The firm has a market capitalization of $81.27 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.96 and a beta of 0.19. The business’s 50 day moving average is $71.56 and its two-hundred day moving average is $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 (NASDAQ:GILD) last announced its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the company posted $1.67 EPS. Gilead Sciences’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts expect that Gilead Sciences will post 5.24 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued 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 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s dividend payout ratio is currently 68.44%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GILD. Barclays cut their price target on shares of Gilead Sciences from $85.00 to $80.00 and set an equal weight rating for the company in a report on Monday, February 12th. Oppenheimer reissued an outperform rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Truist Financial cut shares of Gilead Sciences from a buy rating to a hold rating and cut their price target for the stock from $91.00 to $82.00 in a report on Thursday, February 22nd. Cantor Fitzgerald dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a report on Wednesday, February 7th. Finally, StockNews.com cut shares of Gilead Sciences from a strong-buy rating to a buy rating in a report on Friday, April 19th. Ten investment 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 an average rating of Hold and an average target price of $84.57.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the transaction, the insider now owns 100,936 shares in the company, valued at approximately $7,386,496.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is 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.