Cantor Fitzgerald Comments on Gilead Sciences, Inc.’s FY2024 Earnings (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Cantor Fitzgerald cut their FY2024 earnings estimates for shares of Gilead Sciences in a research note issued 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 currently has a “Neutral” rating and a $78.00 target price on the stock. The consensus estimate for Gilead Sciences’ current full-year earnings is $5.24 per share.

A number of other brokerages have also recently weighed in on GILD. Royal Bank of Canada dropped their price objective 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. UBS Group cut their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a research report on Friday, April 19th. StockNews.com cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, April 19th. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Hold” and a consensus target price of $84.57.

Gilead Sciences Trading Down 2.7 %

GILD opened at $65.27 on Wednesday. The business’s 50 day moving average price is $71.40 and its 200 day moving average price is $76.32. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The stock has a market capitalization of $81.27 billion, a PE ratio of 14.50, a P/E/G ratio of 0.96 and a beta of 0.19. Gilead Sciences has a one year low of $65.09 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same period last year, the company posted $1.37 EPS. The business’s revenue was up 5.3% on a year-over-year basis.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.77 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 4.72%. Gilead Sciences’s payout ratio is currently 68.44%.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors have recently added to or reduced their stakes in GILD. Tompkins Financial Corp increased its stake in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in Gilead Sciences in the fourth quarter valued at $29,000. OFI Invest Asset Management purchased a new stake in Gilead Sciences during the third quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in Gilead Sciences during the fourth quarter worth about $29,000. Finally, Sachetta LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth about $30,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.