Gilead Sciences, Inc. (NASDAQ:GILD) to Post FY2023 Earnings of $6.64 Per Share, Leerink Partnrs Forecasts

Gilead Sciences, Inc. (NASDAQ:GILD) – Investment analysts at Leerink Partnrs lifted their FY2023 EPS estimates for shares of Gilead Sciences in a note issued to investors on Friday, November 17th. Leerink Partnrs analyst D. Graybosch now anticipates that the biopharmaceutical company will earn $6.64 per share for the year, up from their prior estimate of $6.57. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $6.76 per share. Leerink Partnrs also issued estimates for Gilead Sciences’ Q4 2023 earnings at $1.64 EPS, Q1 2024 earnings at $1.68 EPS, Q2 2024 earnings at $1.96 EPS, Q3 2024 earnings at $2.04 EPS, Q4 2024 earnings at $2.00 EPS and FY2024 earnings at $7.68 EPS.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.38. Gilead Sciences had a net margin of 21.45% and a return on equity of 39.30%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the business earned $1.90 EPS. Gilead Sciences’s quarterly revenue was up .1% on a year-over-year basis.

Other research analysts have also issued research reports about the stock. Bank of America upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating and increased their target price for the stock from $88.00 to $95.00 in a research report on Friday, September 8th. Truist Financial restated a “buy” rating and set a $91.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 6th. StockNews.com began coverage on shares of Gilead Sciences in a research report on Thursday, October 5th. They set a “strong-buy” rating on the stock. HSBC assumed coverage on shares of Gilead Sciences in a research report on Wednesday, September 6th. They set a “reduce” rating and a $71.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $88.22.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $76.00 on Monday. The company’s 50 day moving average price is $76.80 and its two-hundred day moving average price is $77.24. Gilead Sciences has a 12-month low of $72.87 and a 12-month high of $89.74. The firm has a market cap of $94.70 billion, a PE ratio of 16.31, a PEG ratio of 1.00 and a beta of 0.32. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.08.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 15th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, December 14th. Gilead Sciences’s payout ratio is 64.38%.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chief financial officer now owns 104,003 shares of the company’s stock, valued at $8,320,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chief financial officer now owns 104,003 shares of the company’s stock, valued at $8,320,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 1,501 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total transaction of $115,561.99. Following the transaction, the insider now directly owns 70,130 shares of the company’s stock, valued at approximately $5,399,308.70. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

Several large investors have recently modified their holdings of the company. Resources Management Corp CT ADV increased its position in shares of Gilead Sciences by 1.4% during the third quarter. Resources Management Corp CT ADV now owns 27,331 shares of the biopharmaceutical company’s stock worth $2,048,000 after buying an additional 379 shares during the period. Twin Lakes Capital Management LLC grew its holdings in Gilead Sciences by 0.8% in the third quarter. Twin Lakes Capital Management LLC now owns 78,631 shares of the biopharmaceutical company’s stock worth $5,893,000 after purchasing an additional 609 shares during the period. Integrated Advisors Network LLC grew its holdings in Gilead Sciences by 1.7% in the third quarter. Integrated Advisors Network LLC now owns 14,543 shares of the biopharmaceutical company’s stock worth $1,090,000 after purchasing an additional 238 shares during the period. Creative Planning grew its holdings in Gilead Sciences by 0.5% in the third quarter. Creative Planning now owns 152,961 shares of the biopharmaceutical company’s stock worth $11,463,000 after purchasing an additional 767 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its holdings in Gilead Sciences by 1,285.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 4,129 shares of the biopharmaceutical company’s stock worth $309,000 after purchasing an additional 3,831 shares during the period. 82.33% of the stock is currently 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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.