Gilead Sciences (GILD) to Release Earnings on Thursday

Gilead Sciences (NASDAQ:GILD) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.56 per share for the quarter. Gilead Sciences has set its FY24 guidance at $6.85-7.25 EPS and its FY 2024 guidance at 6.850-7.250 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). The company had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 earnings per share. On average, analysts expect Gilead Sciences to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Gilead Sciences Stock Down 0.6 %

Shares of Gilead Sciences stock opened at $66.93 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 12-month low of $66.89 and a 12-month high of $87.86. The firm has a market capitalization of $83.33 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.86 and a beta of 0.19. The stock’s fifty day moving average is $72.25 and its 200-day moving average is $76.66.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.60%. The ex-dividend date was Thursday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s payout ratio is presently 68.44%.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following 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 legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors have recently made changes to their positions in GILD. Cetera Investment Advisers grew its stake in shares of Gilead Sciences by 9.2% in the first quarter. Cetera Investment Advisers now owns 57,967 shares of the biopharmaceutical company’s stock worth $3,446,000 after acquiring an additional 4,877 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Gilead Sciences by 3.9% during the 1st quarter. Baird Financial Group Inc. now owns 448,409 shares of the biopharmaceutical company’s stock worth $26,660,000 after purchasing an additional 16,643 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Gilead Sciences by 44.3% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock valued at $514,000 after buying an additional 2,654 shares during the last quarter. Donaldson Capital Management LLC lifted its stake in shares of Gilead Sciences by 12.5% in the first quarter. Donaldson Capital Management LLC now owns 5,763 shares of the biopharmaceutical company’s stock valued at $343,000 after buying an additional 641 shares during the period. Finally, Ergoteles LLC acquired a new stake in Gilead Sciences during the first quarter worth about $2,304,000. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GILD shares. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Barclays lowered their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Wells Fargo & Company reduced their price objective on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Finally, Oppenheimer dropped their target price on Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.36.

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.