Gilead Sciences, Inc. Forecasted to Earn Q1 2024 Earnings of ($1.42) Per Share (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Equities researchers at Zacks Research decreased their Q1 2024 EPS estimates for Gilead Sciences in a report released on Tuesday, April 23rd. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will post earnings of ($1.42) per share for the quarter, down from their prior estimate of $1.38. The consensus estimate for Gilead Sciences’ current full-year earnings is $5.24 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.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company reduced their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. 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 report on Thursday, February 22nd. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of Gilead Sciences in a report on Friday, April 19th. Cantor Fitzgerald cut their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a report on Wednesday. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.57.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $67.08 on Thursday. The company has a market capitalization of $83.52 billion, a PE ratio of 14.91, a P/E/G ratio of 0.96 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The company has a 50-day simple moving average of $71.56 and a two-hundred day simple moving average of $76.39. Gilead Sciences has a one year low of $65.90 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). The firm had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 earnings per share.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio is currently 68.44%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Altfest L J & Co. Inc. acquired a new position in shares of Gilead Sciences during the 4th quarter worth approximately $210,000. Federated Hermes Inc. raised its stake in shares of Gilead Sciences by 4.9% during the 4th 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 during the 4th quarter worth approximately $74,000. Abundance Wealth Counselors acquired a new position in shares of Gilead Sciences during the 3rd quarter worth approximately $1,881,000. Finally, HTLF Bank acquired a new position in shares of Gilead Sciences during the 4th quarter worth approximately $253,000. 83.67% of the stock is owned by institutional investors and hedge funds.

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.