Gilead Sciences, Inc. to Post FY2024 Earnings of $4.10 Per Share, Cantor Fitzgerald Forecasts (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Investment analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for Gilead Sciences in a research report issued to clients and investors on Monday, April 22nd. Cantor Fitzgerald analyst O. Brayer now anticipates that the biopharmaceutical company will earn $4.10 per share for the year, down from their previous estimate of $7.19. 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 $6.28 per share.

Other equities analysts have also issued reports about the stock. Mizuho dropped their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Barclays cut 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 research report on Monday, February 12th. Royal Bank of Canada decreased their target price on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 14th. UBS Group reduced their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.71.

Gilead Sciences Stock Up 0.1 %

GILD stock opened at $67.03 on Wednesday. The business’s 50 day simple moving average is $71.68 and its 200 day simple moving average is $76.46. Gilead Sciences has a 1-year low of $65.90 and a 1-year high of $87.86. The firm has a market capitalization of $83.46 billion, a PE ratio of 14.90, a PEG ratio of 0.96 and a beta of 0.19. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) 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 analyst estimates of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.67 earnings per share.

Institutional Investors Weigh In On Gilead Sciences

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC raised its holdings in Gilead Sciences by 10.3% during the 3rd quarter. Global Retirement Partners LLC now owns 4,753 shares of the biopharmaceutical company’s stock worth $355,000 after purchasing an additional 445 shares during the last quarter. Founders Financial Securities LLC bought a new position in Gilead Sciences during the third quarter worth $699,000. Newbridge Financial Services Group Inc. lifted its holdings in Gilead Sciences by 53.3% in the third quarter. Newbridge Financial Services Group Inc. now owns 3,254 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 1,131 shares during the period. Meridian Wealth Management LLC boosted its position in Gilead Sciences by 96.1% during the third quarter. Meridian Wealth Management LLC now owns 23,046 shares of the biopharmaceutical company’s stock valued at $1,727,000 after acquiring an additional 11,293 shares during the last quarter. Finally, Wagner Wealth Management LLC grew its holdings in Gilead Sciences by 16.4% during the 3rd quarter. Wagner Wealth Management LLC now owns 5,337 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 751 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.77 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 annualized dividend and a yield of 4.59%. Gilead Sciences’s payout ratio is presently 68.44%.

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.