FY2024 Earnings Estimate for Gilead Sciences, Inc. (NASDAQ:GILD) Issued By Cantor Fitzgerald

Gilead Sciences, Inc. (NASDAQ:GILD) – Analysts at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for Gilead Sciences in a report issued on Tuesday, September 24th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will earn $3.89 per share for the year, up from their previous forecast of $3.84. Cantor Fitzgerald currently has a “Neutral” rating and a $70.00 target price on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $3.78 per share.

GILD has been the topic of a number of other research reports. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Truist Financial increased their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. Royal Bank of Canada upped their price target on Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Gilead Sciences Price Performance

Shares of GILD stock opened at $82.21 on Thursday. The firm’s 50 day moving average price is $77.46 and its two-hundred day moving average price is $71.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $87.86. The stock has a market cap of $102.35 billion, a PE ratio of 228.36, a PEG ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. grew its position in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the period. Palisade Asset Management LLC acquired a new position in Gilead Sciences during the first quarter worth approximately $29,000. Cedar Wealth Management LLC increased its position in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences in the second quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Gilead Sciences in the second quarter valued at approximately $34,000. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock worth $3,002,940. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Dividend Announcement

The company 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 $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s 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.