Gilead Sciences (NASDAQ:GILD) Issues FY 2022 Earnings Guidance

Gilead Sciences (NASDAQ:GILD – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.35-$6.75 for the period, compared to the consensus EPS estimate of $6.57. The company issued revenue guidance of $24.50 billion-$25.00 billion, compared to the consensus revenue estimate of $24.57 billion. Gilead Sciences also updated its FY22 guidance to $6.35-6.75 EPS.

Gilead Sciences Stock Down 1.3 %

Shares of GILD traded down $0.82 during trading hours on Friday, hitting $61.09. The stock had a trading volume of 6,034,024 shares, compared to its average volume of 9,087,971. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.49 and a quick ratio of 1.30. The firm has a 50 day simple moving average of $61.55 and a 200-day simple moving average of $61.93. The firm has a market capitalization of $76.63 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 0.63 and a beta of 0.34. Gilead Sciences has a 1-year low of $57.17 and a 1-year high of $74.12.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a $0.73 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.78%. Gilead Sciences’s dividend payout ratio (DPR) is presently 89.02%.

Analyst Ratings Changes

A number of research analysts have recently commented on GILD shares. Royal Bank of Canada boosted their price target on shares of Gilead Sciences from $76.00 to $77.00 and gave the company an outperform rating in a research report on Tuesday, April 12th. Morgan Stanley boosted their price target on shares of Gilead Sciences from $63.00 to $65.00 and gave the company an equal weight rating in a research report on Friday, July 15th. Piper Sandler reduced their price target on shares of Gilead Sciences from $73.00 to $69.00 and set a neutral rating for the company in a research report on Monday, May 16th. TheStreet lowered shares of Gilead Sciences from a b- rating to a c+ rating in a research report on Friday, July 1st. Finally, BMO Capital Markets assumed coverage on shares of Gilead Sciences in a research report on Tuesday, June 7th. They set a hold rating and a $63.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $72.07.

Institutional Trading of Gilead Sciences

Several institutional investors and hedge funds have recently modified their holdings of GILD. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Gilead Sciences by 44.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock worth $514,000 after buying an additional 2,654 shares in the last quarter. PDT Partners LLC purchased a new position in shares of Gilead Sciences during the 1st quarter worth about $458,000. IHT Wealth Management LLC boosted its stake in shares of Gilead Sciences by 3.8% during the 1st quarter. IHT Wealth Management LLC now owns 7,284 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 266 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Gilead Sciences by 81.5% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 7,051 shares of the biopharmaceutical company’s stock worth $419,000 after purchasing an additional 3,167 shares during the period. Finally, Wall Street Access Asset Management LLC lifted its holdings in Gilead Sciences by 5.1% during the 1st quarter. Wall Street Access Asset Management LLC now owns 6,156 shares of the biopharmaceutical company’s stock valued at $366,000 after buying an additional 300 shares in the last quarter. 80.16% of the stock is currently owned by institutional investors.

About Gilead Sciences

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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 liver diseases.