FY2024 EPS Estimates for Gilead Sciences, Inc. Decreased by Analyst (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Equities researchers at Cantor Fitzgerald decreased their FY2024 EPS estimates for Gilead Sciences in a report released on Monday, April 22nd. Cantor Fitzgerald analyst O. Brayer now anticipates that the biopharmaceutical company will post earnings of $4.10 per share for the year, down from their prior estimate of $7.19. Cantor Fitzgerald currently has a “Neutral” rating and a $78.00 target price on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $6.28 per share.

A number of other equities analysts have also recently commented on the stock. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Wednesday. StockNews.com lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Mizuho cut their price objective on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Barclays decreased their target price on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Finally, Truist Financial downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and cut their price target for the company from $91.00 to $82.00 in a report on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Hold” and a consensus target price of $84.57.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $67.08 on Wednesday. The stock has a market cap of $83.52 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.96 and a beta of 0.19. Gilead Sciences has a twelve month low of $65.90 and a twelve month high of $87.86. The stock has a 50 day moving average of $71.56 and a two-hundred day moving average of $76.39. 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 posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates 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 for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 EPS.

Institutional Investors Weigh In On Gilead Sciences

Several hedge funds have recently modified their holdings of GILD. OFI Invest Asset Management purchased a new position in shares of Gilead Sciences during the third quarter valued at approximately $26,000. Tompkins Financial Corp lifted its stake in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences during the fourth quarter worth $29,000. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at $29,000. Finally, Sachetta LLC acquired a new position in Gilead Sciences in the fourth quarter valued at $30,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Gilead Sciences Increases Dividend

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

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.