Leerink Partnrs Weighs in on Gilead Sciences FY2024 Earnings

Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) - Investment analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of Gilead Sciences in a report released on Wednesday, December 11th. Leerink Partnrs analyst D. Graybosch now forecasts that the biopharmaceutical company will post earnings of $4.48 per share for the year, up from their prior forecast of $3.66. Leerink Partnrs has a "Strong-Buy" rating on the stock. The consensus estimate for Gilead Sciences' current full-year earnings is $4.35 per share. Leerink Partnrs also issued estimates for Gilead Sciences' Q4 2024 earnings at $1.76 EPS, FY2025 earnings at $7.78 EPS, FY2026 earnings at $8.50 EPS, FY2027 earnings at $9.34 EPS and FY2028 earnings at $9.59 EPS.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.01 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. Gilead Sciences's revenue for the quarter was up 7.0% compared to the same quarter last year.

Several other brokerages have also recently commented on GILD. Mizuho lifted their price objective on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Truist Financial increased their price target on Gilead Sciences from $83.00 to $97.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Wolfe Research assumed coverage on Gilead Sciences in a report on Friday, November 15th. They issued an "outperform" rating and a $110.00 price objective for the company. Finally, UBS Group raised their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a "neutral" rating in a report on Thursday, November 21st. Twelve equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Gilead Sciences has an average rating of "Moderate Buy" and an average target price of $96.43.

Gilead Sciences Stock Performance

Gilead Sciences stock traded up $0.24 during trading hours on Friday, hitting $91.86. 6,888,210 shares of the stock traded hands, compared to its average volume of 7,068,425. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $98.90. The stock has a market capitalization of $114.48 billion, a price-to-earnings ratio of 1,026.44, a P/E/G ratio of 2.38 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The firm's 50 day moving average price is $89.82 and its 200-day moving average price is $79.26.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's dividend payout ratio (DPR) is 3,422.22%.

Insider Activity

In other news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now directly owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares of the company's stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 447,234 shares of company stock worth $41,288,086. Company insiders own 0.16% of the company's stock.

Institutional Investors Weigh In On Gilead Sciences

Large investors have recently bought and sold shares of the stock. Avior Wealth Management LLC boosted its stake in shares of Gilead Sciences by 1.2% during the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company's stock valued at $782,000 after acquiring an additional 108 shares during the last quarter. Concord Asset Management LLC VA lifted its holdings in Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company's stock valued at $256,000 after purchasing an additional 111 shares in the last quarter. TFB Advisors LLC lifted its holdings in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company's stock valued at $788,000 after purchasing an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company's stock worth $1,494,000 after purchasing an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. grew its holdings in shares of Gilead Sciences by 2.2% during the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company's stock worth $450,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

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.