Analysts Issue Forecasts for Gilead Sciences, Inc.’s Q1 2024 Earnings (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Research analysts at Zacks Research decreased their Q1 2024 EPS estimates for shares of Gilead Sciences in a research note issued on Tuesday, April 23rd. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will post earnings per share of ($1.42) for the quarter, down from their prior estimate of $1.38. The consensus estimate for Gilead Sciences’ current full-year earnings is $4.20 per share. Zacks Research also issued estimates for Gilead Sciences’ Q3 2024 earnings at $1.84 EPS, Q4 2024 earnings at $1.87 EPS, FY2024 earnings at $3.69 EPS, Q1 2025 earnings at $1.56 EPS, Q2 2025 earnings at $1.61 EPS, Q4 2025 earnings at $1.95 EPS and FY2025 earnings at $7.24 EPS.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same period last year, the firm posted $1.37 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis.

Other analysts also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of 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. StockNews.com downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Mizuho cut 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. Barclays cut their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Finally, Royal Bank of Canada cut their price objective on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating on the stock in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.87.

Gilead Sciences Trading Up 0.2 %

Gilead Sciences stock opened at $65.42 on Thursday. The firm’s 50-day moving average is $71.28 and its 200-day moving average is $76.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. Gilead Sciences has a 1 year low of $64.63 and a 1 year high of $87.86. The company has a market cap of $81.45 billion, a P/E ratio of 14.54, a PEG ratio of 1.20 and a beta of 0.19.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds have recently made changes to their positions in the business. Altfest L J & Co. Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter worth approximately $210,000. Federated Hermes Inc. boosted its holdings in shares of Gilead Sciences by 4.9% in the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after buying an additional 175,925 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Gilead Sciences in the fourth quarter worth about $74,000. Abundance Wealth Counselors acquired a new position in shares of Gilead Sciences in the third quarter worth about $1,881,000. Finally, HTLF Bank acquired a new position in shares of Gilead Sciences in the fourth quarter worth about $253,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.77 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. This represents a $3.08 annualized dividend and a yield of 4.71%. Gilead Sciences’s dividend payout ratio (DPR) is presently 68.44%.

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.