Gilead Sciences, Inc. (NASDAQ:GILD) Forecasted to Post Q2 2024 Earnings of $1.40 Per Share

Gilead Sciences, Inc. (NASDAQ:GILD) – Equities research analysts at Zacks Research cut their Q2 2024 earnings per share estimates for shares of Gilead Sciences in a report released on Tuesday, April 23rd. Zacks Research analyst E. Bagri now anticipates that the biopharmaceutical company will earn $1.40 per share for the quarter, down from their prior forecast of $1.54. The consensus estimate for Gilead Sciences’ current full-year earnings is $6.28 per share. Zacks Research also issued estimates for Gilead Sciences’ Q3 2025 earnings at $2.12 EPS, Q1 2026 earnings at $1.43 EPS and FY2026 earnings at $7.18 EPS.

GILD has been the topic of a number of other reports. 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 research note on Wednesday. StockNews.com downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 19th. Barclays decreased their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Mizuho dropped their target price on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Truist Financial lowered Gilead Sciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Hold” and an average target price of $84.57.

Gilead Sciences Stock Up 0.1 %

Shares of Gilead Sciences stock opened at $67.08 on Wednesday. Gilead Sciences has a 1-year low of $65.90 and a 1-year high of $87.86. The company has a market capitalization of $83.52 billion, a P/E ratio of 14.91, a PEG ratio of 0.96 and a beta of 0.19. The business’s fifty day moving average price is $71.56 and its two-hundred day moving average price is $76.39. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27.

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

Gilead Sciences Increases Dividend

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

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Gilead Sciences in the fourth quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company grew its stake in Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after buying an additional 3,362,505 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Gilead Sciences by 179.0% during the 3rd quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock valued at $340,526,000 after acquiring an additional 2,915,141 shares during the period. Wellington Management Group LLP lifted its position in shares of Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after acquiring an additional 2,350,550 shares in the last quarter. Finally, abrdn plc boosted its holdings in shares of Gilead Sciences by 89.0% in the fourth quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock worth $304,930,000 after acquiring an additional 1,772,887 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

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.