Gilead Sciences, Inc. (NASDAQ:GILD) Forecasted to Earn FY2022 Earnings of $6.67 Per Share

Posted by MarketBeat News on Aug 6th, 2022

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Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) – Jefferies Financial Group raised their FY2022 earnings per share estimates for Gilead Sciences in a note issued to investors on Tuesday, August 2nd. Jefferies Financial Group analyst M. Yee now anticipates that the biopharmaceutical company will post earnings per share of $6.67 for the year, up from their prior estimate of $6.59. The consensus estimate for Gilead Sciences’ current full-year earnings is $6.58 per share. Jefferies Financial Group also issued estimates for Gilead Sciences’ Q4 2023 earnings at $1.55 EPS, FY2023 earnings at $6.34 EPS and FY2024 earnings at $6.82 EPS.

A number of other brokerages have also recently issued reports on GILD. StockNews.com cut Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada raised their price objective on Gilead Sciences from $76.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, April 12th. Morgan Stanley raised their price objective on Gilead Sciences from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, July 15th. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research note on Tuesday, July 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Piper Sandler cut their target price on Gilead Sciences from $73.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, May 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $72.07.

Gilead Sciences Stock Down 1.3 %

Shares of NASDAQ:GILD opened at $61.09 on Friday. The stock’s 50-day moving average price is $61.55 and its 200-day moving average price is $61.93. Gilead Sciences has a 12-month low of $57.17 and a 12-month high of $74.12. The stock has a market capitalization of $76.63 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 0.63 and a beta of 0.34. The company has a current ratio of 1.49, a quick ratio of 1.30 and a debt-to-equity ratio of 1.31.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Gilead Sciences by 2.3% in the 1st quarter. BlackRock Inc. now owns 121,709,365 shares of the biopharmaceutical company’s stock valued at $7,235,622,000 after purchasing an additional 2,748,159 shares during the last quarter. State Street Corp lifted its position in shares of Gilead Sciences by 1.0% during the 1st quarter. State Street Corp now owns 57,970,959 shares of the biopharmaceutical company’s stock worth $3,446,374,000 after purchasing an additional 601,690 shares during the last quarter. Capital World Investors lifted its position in shares of Gilead Sciences by 16.0% during the 1st quarter. Capital World Investors now owns 49,501,852 shares of the biopharmaceutical company’s stock worth $2,942,905,000 after purchasing an additional 6,820,228 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Gilead Sciences by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 22,739,179 shares of the biopharmaceutical company’s stock worth $1,647,123,000 after purchasing an additional 440,695 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Gilead Sciences by 324.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after purchasing an additional 13,764,169 shares during the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 89.02%.

About Gilead Sciences

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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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.