Zacks Research Research Analysts Lower Earnings Estimates for Gilead Sciences, Inc. (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD) – Research analysts at Zacks Research dropped their Q1 2024 earnings per share estimates for shares of Gilead Sciences in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst E. Bagri now forecasts that the biopharmaceutical company will post earnings of ($1.42) per share for the quarter, down from their prior estimate of $1.38. The consensus estimate for Gilead Sciences’ current full-year earnings is $5.24 per share. Zacks Research also issued estimates for Gilead Sciences’ Q3 2024 earnings at $1.84 EPS, Q4 2024 earnings at $1.87 EPS, FY2024 earnings at $3.69 EPS, Q1 2025 earnings at $1.56 EPS, Q2 2025 earnings at $1.61 EPS, Q4 2025 earnings at $1.95 EPS and FY2025 earnings at $7.24 EPS.

A number of other research analysts also recently weighed in on GILD. UBS Group reduced their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Barclays reduced their target price on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Wells Fargo & Company cut their price target 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. Cantor Fitzgerald cut their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada cut their price target on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.57.

Gilead Sciences Trading Down 2.7 %

GILD opened at $65.27 on Thursday. The business has a 50 day simple moving average of $71.40 and a two-hundred day simple moving average of $76.32. The firm has a market capitalization of $81.27 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.96 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. 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, beating analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. Gilead Sciences’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.37 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Nilsine Partners LLC increased its holdings in Gilead Sciences by 1.1% in the 3rd quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock valued at $891,000 after purchasing an additional 127 shares during the last quarter. Etesian Wealth Advisors Inc. lifted its holdings in shares of Gilead Sciences by 0.7% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after purchasing an additional 128 shares in the last quarter. Financial Counselors Inc. lifted its stake in shares of Gilead Sciences by 1.5% during the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after buying an additional 128 shares during the period. Revolve Wealth Partners LLC raised its stake in Gilead Sciences by 3.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 130 shares during the period. Finally, Institutional & Family Asset Management LLC increased its position in shares of Gilead Sciences by 10.3% in the third quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 140 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the company’s 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 transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Increases Dividend

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