Q3 2024 Earnings Forecast for Gilead Sciences, Inc. Issued By Zacks Research (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Equities researchers at Zacks Research cut their Q3 2024 earnings estimates for Gilead Sciences in a report released on Thursday, August 22nd. Zacks Research analyst E. Bagri now expects that the biopharmaceutical company will earn $1.58 per share for the quarter, down from their previous forecast of $1.75. The consensus estimate for Gilead Sciences’ current full-year earnings is $3.73 per share. Zacks Research also issued estimates for Gilead Sciences’ FY2024 earnings at $3.74 EPS, Q1 2025 earnings at $1.62 EPS, Q3 2025 earnings at $2.02 EPS, Q1 2026 earnings at $1.60 EPS and Q2 2026 earnings at $1.80 EPS.

Several other analysts have also issued reports on GILD. Barclays cut their price target on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. BMO Capital Markets increased their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Finally, Truist Financial increased their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.94.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $76.72 on Monday. The company has a 50-day simple moving average of $71.87 and a two-hundred day simple moving average of $70.15. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $87.86. The firm has a market cap of $95.58 billion, a price-to-earnings ratio of 213.11, a PEG ratio of 3.37 and a beta of 0.18.

Institutional Trading of Gilead Sciences

Several hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in Gilead Sciences in the 4th quarter worth about $1,649,000. Bryn Mawr Capital Management LLC bought a new position in Gilead Sciences in the 4th quarter worth about $231,000. Kovack Advisors Inc. grew its stake in Gilead Sciences by 7.0% in the 4th quarter. Kovack Advisors Inc. now owns 10,495 shares of the biopharmaceutical company’s stock worth $850,000 after acquiring an additional 685 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Gilead Sciences by 49.6% in the 4th quarter. Citizens Financial Group Inc. RI now owns 5,164 shares of the biopharmaceutical company’s stock worth $418,000 after acquiring an additional 1,711 shares in the last quarter. Finally, PGGM Investments grew its stake in Gilead Sciences by 10.7% in the 4th quarter. PGGM Investments now owns 87,067 shares of the biopharmaceutical company’s stock worth $7,053,000 after acquiring an additional 8,382 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is 855.56%.

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.