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

Gilead Sciences, Inc. (NASDAQ:GILD) – Investment analysts at Cantor Fitzgerald decreased their FY2024 earnings per share estimates for shares of Gilead Sciences in a report issued on Friday, April 26th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will post earnings per share of $3.82 for the year, down from their previous estimate 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.

A number of other analysts have also commented on GILD. Barclays dropped their price target on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday. Morgan Stanley lowered their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Friday. UBS Group lowered their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price for the company in a research report on Wednesday, April 24th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.60.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $65.94 on Monday. Gilead Sciences has a 52 week low of $64.63 and a 52 week high of $87.86. The company’s 50 day moving average price is $71.16 and its two-hundred day moving average price is $76.17. The stock has a market cap of $82.10 billion, a P/E ratio of 183.17, a P/E/G ratio of 1.29 and a beta of 0.19. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 1.08.

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

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently added to or reduced their stakes in the business. Nilsine Partners LLC boosted its position in shares of Gilead Sciences by 1.1% during the 3rd quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock valued at $891,000 after acquiring an additional 127 shares during the last quarter. Etesian Wealth Advisors Inc. increased its position in shares of Gilead Sciences by 0.7% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock worth $1,486,000 after purchasing an additional 128 shares during the last quarter. Financial Counselors Inc. raised its stake in Gilead Sciences by 1.5% in the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after purchasing an additional 128 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Gilead Sciences by 3.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 130 shares during the last quarter. Finally, Institutional & Family Asset Management LLC grew its stake in Gilead Sciences by 10.3% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 140 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% 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 issued a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.67%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

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.