Gilead Sciences (NASDAQ:GILD) Issues Earnings Results, Beats Estimates By $0.44 EPS

Gilead Sciences (NASDAQ:GILD) posted its earnings results on Wednesday. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44, Briefing.com reports. Gilead Sciences had a net margin of 0.45% and a return on equity of 28.60%. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period last year, the firm posted $2.29 earnings per share. Gilead Sciences’s revenue for the quarter was up 7.0% compared to the same quarter last year. Gilead Sciences updated its FY24 guidance to $4.25-4.45 EPS and its FY 2024 guidance to 4.250-4.450 EPS.

Gilead Sciences Trading Down 1.4 %

Shares of GILD stock opened at $96.57 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The company has a market cap of $120.22 billion, a price-to-earnings ratio of 1,072.94, a PEG ratio of 3.19 and a beta of 0.17. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $98.32. The stock has a 50 day simple moving average of $85.30 and a 200-day simple moving average of $75.03.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th 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 3.19%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Truist Financial increased their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday. Barclays lifted their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday. Cantor Fitzgerald increased their price target on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Thursday. Finally, Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.71.

Insider Activity

In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,437 shares of company stock worth $5,374,825 over the last 90 days. 0.16% of the stock is currently owned by company 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.