Gilead Sciences FY2024 EPS Forecast Raised by Zacks Research

Gilead Sciences, Inc. (NASDAQ:GILD) – Zacks Research increased their FY2024 earnings per share (EPS) estimates for Gilead Sciences in a report released on Wednesday, November 20th. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will post earnings of $4.26 per share for the year, up from their previous forecast of $3.73. The consensus estimate for Gilead Sciences’ current full-year earnings is $4.38 per share. Zacks Research also issued estimates for Gilead Sciences’ Q4 2024 earnings at $1.55 EPS, Q1 2025 earnings at $1.62 EPS, Q3 2025 earnings at $1.87 EPS, Q4 2025 earnings at $1.70 EPS, FY2025 earnings at $6.91 EPS, Q1 2026 earnings at $1.55 EPS, Q2 2026 earnings at $1.75 EPS and FY2026 earnings at $7.44 EPS.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share.

Several other analysts also recently weighed in on the stock. Piper Sandler boosted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on Gilead Sciences from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Monday, November 18th. Citigroup started coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective for the company. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Mizuho raised their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $95.41.

Gilead Sciences Stock Performance

Shares of GILD opened at $90.19 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm has a market cap of $112.40 billion, a PE ratio of 1,002.11, a P/E/G ratio of 2.78 and a beta of 0.17. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $98.90. The stock has a fifty day moving average price of $87.43 and a 200-day moving average price of $76.95.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,947 shares of company stock worth $4,968,674. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. nVerses Capital LLC acquired a new stake in Gilead Sciences during the third quarter worth $25,000. Valued Wealth Advisors LLC raised its position in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC lifted its stake in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 83.67% 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.