FY2024 EPS Estimates for Gilead Sciences, Inc. (NASDAQ:GILD) Reduced by Cantor Fitzgerald

Gilead Sciences, Inc. (NASDAQ:GILD) – Research analysts at Cantor Fitzgerald cut their FY2024 earnings per share estimates for shares of Gilead Sciences in a research report issued to clients and investors on Monday, April 22nd. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will post earnings of $4.10 per share for the year, down from their previous forecast of $7.19. Cantor Fitzgerald has a “Neutral” rating and a $78.00 price target on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $6.28 per share.

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

GILD has been the subject of a number of other research reports. Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and cut their target price for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Wednesday. UBS Group reduced their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada lowered their target price on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 14th. Finally, Barclays reduced their price target on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.57.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $67.08 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. The firm has a market cap of $83.52 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.96 and a beta of 0.19. Gilead Sciences has a 12 month low of $65.90 and a 12 month high of $87.86. The company’s 50-day moving average price is $71.56 and its two-hundred day moving average price is $76.39.

Hedge Funds Weigh In On Gilead Sciences

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company increased its stake in Gilead Sciences by 78.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after purchasing an additional 3,362,505 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Gilead Sciences by 179.0% in the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock worth $340,526,000 after purchasing an additional 2,915,141 shares during the period. Wellington Management Group LLP boosted its position in shares of Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Gilead Sciences by 89.0% in the 4th quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock valued at $304,930,000 after buying an additional 1,772,887 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling

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

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.77 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, March 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.59%. Gilead Sciences’s payout ratio is currently 68.44%.

Gilead Sciences Company Profile

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.