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.

Gilead Sciences Trading Down 1.4 %

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

Gilead Sciences (NASDAQ:GILD) last announced 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 company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the prior year, the company earned $2.29 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities research 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 declared 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 is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.19%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent research reports. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price objective on Gilead Sciences from $75.00 to $81.00 and gave the company a “sector perform” rating in a research note on Thursday. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.71.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, 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 owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents 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 hyperlink. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 62,437 shares of company stock worth $5,374,825 over the last 90 days. Corporate 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.