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

Gilead Sciences, Inc. (NASDAQ:GILD) – Cantor Fitzgerald lowered their FY2024 EPS estimates for Gilead Sciences in a report issued on Friday, April 26th. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will post earnings per share of $3.82 for the year, down from their prior estimate of $4.10. 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 $3.82 per share.

Other equities analysts have also recently issued reports about the stock. UBS Group lowered their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. TD Cowen cut their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Morgan Stanley lowered their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Mizuho reduced their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a report on Wednesday, April 24th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.60.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $65.20 on Monday. Gilead Sciences has a 52 week low of $64.63 and a 52 week high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98. The stock has a fifty day moving average of $71.03 and a 200-day moving average of $76.08. The stock has a market capitalization of $81.18 billion, a P/E ratio of 181.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same quarter in the prior year, the business posted $1.37 earnings per share. Gilead Sciences’s revenue was up 5.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GILD. Norges Bank bought a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $1,301,624,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after buying an additional 3,362,505 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Gilead Sciences by 179.0% during the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock worth $340,526,000 after buying an additional 2,915,141 shares during the last quarter. Wellington Management Group LLP raised its position in Gilead Sciences by 14.4% in 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 acquiring an additional 2,350,550 shares during the period. Finally, abrdn plc grew its position in shares of Gilead Sciences by 89.0% during the 4th quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock valued at $304,930,000 after acquiring an additional 1,772,887 shares during the period. 83.67% of the stock is owned by institutional investors.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the completion of the sale, the insider now directly owns 100,936 shares of the company’s stock, valued at $7,386,496.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.72%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

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.