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

Gilead Sciences (NASDAQ:GILD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.250-4.450 for the period, compared to the consensus estimate of 3.810. The company issued revenue guidance of $27.8 billion-$28.1 billion, compared to the consensus revenue estimate of $27.7 billion. Gilead Sciences also updated its FY24 guidance to $4.25-4.45 EPS.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald increased their price objective on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday. Truist Financial increased their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research note on Friday. Robert W. Baird upped their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.71.

Gilead Sciences Trading Down 1.4 %

NASDAQ:GILD traded down $1.34 during trading hours on Friday, hitting $96.57. 7,457,030 shares of the stock were exchanged, compared to its average volume of 5,289,753. The company’s 50 day moving average is $85.30 and its two-hundred day moving average is $75.03. The company has a market capitalization of $120.22 billion, a P/E ratio of 1,072.94, a price-to-earnings-growth ratio of 3.19 and a beta of 0.17. Gilead Sciences has a twelve month low of $62.07 and a twelve month high of $98.32. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 28.60% and a net margin of 0.45%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $2.29 earnings per share. On average, sell-side analysts anticipate that Gilead Sciences will post 3.76 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.19%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,437 shares of company stock valued at $5,374,825 in the last quarter. Company insiders own 0.16% of the company’s stock.

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.