Gilead Sciences (NASDAQ:GILD) Updates FY 2024 Earnings Guidance

Gilead Sciences (NASDAQ:GILD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.250-4.450 for the period, compared to the consensus EPS estimate of 3.810. The company issued revenue guidance of $27.8 billion-$28.1 billion, compared to the consensus revenue estimate of $27.7 billion. Gilead Sciences also updated its FY24 guidance to $4.25-4.45 EPS.

Gilead Sciences Price Performance

GILD stock traded up $1.47 during midday trading on Wednesday, hitting $91.69. The company’s stock had a trading volume of 8,813,104 shares, compared to its average volume of 7,012,789. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $91.98. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $114.15 billion, a price-to-earnings ratio of 111.82, a price-to-earnings-growth ratio of 3.12 and a beta of 0.17. The company has a 50 day moving average of $84.58 and a two-hundred day moving average of $74.67.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. On average, analysts expect that Gilead Sciences will post 3.75 EPS for the current year.

Analyst Ratings Changes

GILD has been the topic of several research reports. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Wells Fargo & Company upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $78.00 to $100.00 in a research note on Monday, October 7th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $75.00 price target on shares of Gilead Sciences in a report on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.85.

Insider Activity

In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.29% of the stock is owned by insiders.

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.