Brokers Issue Forecasts for Gilead Sciences, Inc.’s FY2023 Earnings (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILDGet Rating) – Equities researchers at Piper Sandler lowered their FY2023 earnings estimates for shares of Gilead Sciences in a report issued on Monday, April 11th. Piper Sandler analyst D. Kim now anticipates that the biopharmaceutical company will post earnings of $5.78 per share for the year, down from their previous forecast of $5.79. Piper Sandler also issued estimates for Gilead Sciences’ FY2026 earnings at $5.18 EPS.

Several other equities research analysts have also recently commented on GILD. Morgan Stanley lowered their price target on Gilead Sciences from $69.00 to $63.00 and set an “equal weight” rating for the company in a research note on Tuesday. Mizuho cut their price target on Gilead Sciences from $81.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, February 8th. Bank of America reduced their target price on Gilead Sciences from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday, February 2nd. Oppenheimer reduced their target price on Gilead Sciences from $100.00 to $90.00 in a research report on Thursday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on Gilead Sciences from $76.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of “Hold” and an average price target of $73.31.

Shares of GILD opened at $62.06 on Wednesday. The company has a market capitalization of $77.82 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.45 and a beta of 0.40. Gilead Sciences has a fifty-two week low of $57.19 and a fifty-two week high of $74.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.27 and a quick ratio of 1.13. The business’s 50-day moving average is $60.56 and its 200-day moving average is $66.23.

Gilead Sciences (NASDAQ:GILDGet Rating) last posted its quarterly earnings data on Tuesday, February 1st. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.84). The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 45.27% and a net margin of 22.80%. Gilead Sciences’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.19 EPS.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Investors of record on Tuesday, March 15th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $2.92 annualized dividend and a yield of 4.71%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.71. Gilead Sciences’s dividend payout ratio (DPR) is currently 59.23%.

In related news, EVP Brett A. Pletcher sold 3,634 shares of Gilead Sciences stock in a transaction on Friday, March 11th. The stock was sold at an average price of $58.24, for a total transaction of $211,644.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brett A. Pletcher sold 1,691 shares of Gilead Sciences stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $63.89, for a total value of $108,037.99. The disclosure for this sale can be found here. Insiders have sold 19,386 shares of company stock valued at $1,283,423 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. OLD Second National Bank of Aurora lifted its stake in Gilead Sciences by 46.3% during the third quarter. OLD Second National Bank of Aurora now owns 439 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 139 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Gilead Sciences by 0.4% in the 3rd quarter. Impax Asset Management Group plc now owns 40,201 shares of the biopharmaceutical company’s stock valued at $2,808,000 after acquiring an additional 149 shares during the last quarter. Key Financial Inc lifted its stake in shares of Gilead Sciences by 3.7% in the 4th quarter. Key Financial Inc now owns 4,228 shares of the biopharmaceutical company’s stock valued at $307,000 after acquiring an additional 151 shares during the last quarter. Trust Investment Advisors raised its position in Gilead Sciences by 1.3% during the 4th quarter. Trust Investment Advisors now owns 12,243 shares of the biopharmaceutical company’s stock valued at $889,000 after purchasing an additional 153 shares during the last quarter. Finally, Equitable Holdings Inc. raised its position in Gilead Sciences by 0.4% during the 3rd quarter. Equitable Holdings Inc. now owns 41,253 shares of the biopharmaceutical company’s stock valued at $2,882,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

About Gilead Sciences (Get Rating)

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.

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Earnings History and Estimates for Gilead Sciences (NASDAQ:GILD)

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