Gilead Sciences, Inc. (NASDAQ:GILD) Expected to Post FY2024 Earnings of $3.82 Per Share

Gilead Sciences, Inc. (NASDAQ:GILD) – Equities research analysts at Cantor Fitzgerald reduced their FY2024 earnings estimates for shares of Gilead Sciences in a report released on Friday, April 26th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will post earnings of $3.82 per share for the year, down from their previous forecast of $4.10. Cantor Fitzgerald has a “Neutral” rating and a $78.00 price objective on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $3.82 per share.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The firm had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the prior year, the firm posted $1.37 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year.

Other equities research analysts also recently issued reports about the stock. Barclays cut their target price on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday. Mizuho dropped their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Royal Bank of Canada reduced their target price on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a report on Friday, April 26th. UBS Group cut their price objective 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. Finally, Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Monday, March 4th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences has an average rating of “Hold” and an average price target of $83.60.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $65.20 on Monday. The firm’s fifty day moving average price is $71.03 and its two-hundred day moving average price is $76.08. Gilead Sciences has a 1 year low of $64.63 and a 1 year high of $87.86. The firm has a market capitalization of $81.18 billion, a P/E ratio of 181.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.19. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Capital World Investors grew its position in shares of Gilead Sciences by 2.0% during the 4th quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock worth $6,753,350,000 after buying an additional 1,642,736 shares during the period. Capital Research Global Investors boosted its position in shares of Gilead Sciences by 3.0% during the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock worth $4,832,824,000 after purchasing an additional 1,743,418 shares in the last quarter. Wellington Management Group LLP increased its position in Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after buying an additional 2,350,550 shares in the last quarter. Morgan Stanley boosted its holdings in Gilead Sciences by 0.9% in the third quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after acquiring an additional 158,794 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $1,301,624,000. 83.67% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the completion of the transaction, the insider now directly owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Gilead Sciences Dividend Announcement

The business also recently disclosed 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 yield of 4.72%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio is 855.56%.

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.