Gilead Sciences (GILD) Scheduled to Post Quarterly Earnings on Thursday

Gilead Sciences (NASDAQ:GILD) will issue 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.Parties that wish to listen to the company’s conference call can do so using this link.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the company earned $1.67 earnings per share. Gilead Sciences’s revenue for the quarter was down 3.7% compared to the same quarter last year. 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 %

Gilead Sciences stock opened at $66.93 on Thursday. The firm has a market capitalization of $83.33 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.86 and a beta of 0.19. The firm’s fifty day moving average price is $72.25 and its two-hundred day moving average price is $76.66. Gilead Sciences has a 1-year low of $66.89 and a 1-year high of $87.86. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.77 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 annualized dividend and a yield of 4.60%. Gilead Sciences’s dividend payout ratio (DPR) is presently 68.44%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GILD shares. Royal Bank of Canada dropped their target price on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 14th. Wells Fargo & Company dropped their price objective on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. Oppenheimer reduced their target price on shares of Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Mizuho cut their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.36.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of large investors have recently modified their holdings of the company. Royal London Asset Management Ltd. increased its stake in Gilead Sciences by 4.0% in the 1st quarter. Royal London Asset Management Ltd. now owns 655,317 shares of the biopharmaceutical company’s stock worth $38,962,000 after acquiring an additional 25,011 shares during the last quarter. Prudential Financial Inc. raised its stake in Gilead Sciences by 31.1% in the first quarter. Prudential Financial Inc. now owns 2,171,419 shares of the biopharmaceutical company’s stock valued at $129,091,000 after purchasing an additional 515,307 shares in the last quarter. USS Investment Management Ltd lifted its position in Gilead Sciences by 5.5% during the first quarter. USS Investment Management Ltd now owns 472,410 shares of the biopharmaceutical company’s stock valued at $28,087,000 after purchasing an additional 24,792 shares during the last quarter. Equitable Holdings Inc. grew its stake in Gilead Sciences by 16.8% in the 1st quarter. Equitable Holdings Inc. now owns 47,708 shares of the biopharmaceutical company’s stock worth $2,836,000 after buying an additional 6,864 shares in the last quarter. Finally, Bridgewater Associates LP increased its holdings in shares of Gilead Sciences by 646.6% in the 1st quarter. Bridgewater Associates LP now owns 322,072 shares of the biopharmaceutical company’s stock worth $19,147,000 after buying an additional 278,934 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

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.