Gilead Sciences (NASDAQ:GILD) Releases 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.

Wall Street Analyst Weigh In

Several research firms have issued reports on GILD. Barclays upped their price objective on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Piper Sandler upped their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.71.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded down $1.34 during trading on Friday, hitting $96.57. 7,457,030 shares of the company were exchanged, compared to its average volume of 5,289,753. 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 has a 1-year low of $62.07 and a 1-year high of $98.32. 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. The business’s 50 day moving average is $85.30 and its 200-day moving average is $75.03.

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

Gilead Sciences Announces Dividend

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

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,437 shares of company stock worth $5,374,825 over the last three months. Company insiders own 0.16% of the company’s stock.

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.