Cantor Fitzgerald Weighs in on Gilead Sciences, Inc.'s FY2024 Earnings (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) - Cantor Fitzgerald upped their FY2024 earnings estimates for Gilead Sciences in a note issued to investors on Tuesday, September 24th. Cantor Fitzgerald analyst O. Brayer now anticipates that the biopharmaceutical company will post earnings of $3.89 per share for the year, up from their prior forecast of $3.84. Cantor Fitzgerald has a "Neutral" rating and a $70.00 price target on the stock. The consensus estimate for Gilead Sciences' current full-year earnings is $3.78 per share.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets boosted their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a "sector perform" rating in a research report on Wednesday, September 4th. Raymond James upgraded shares of Gilead Sciences from a "market perform" rating to an "outperform" rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Robert W. Baird reiterated a "neutral" rating and set a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $82.06.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.35 on Thursday, reaching $82.56. The stock had a trading volume of 1,813,935 shares, compared to its average volume of 7,263,589. The company has a market capitalization of $102.79 billion, a P/E ratio of 227.53, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. The stock has a fifty day moving average price of $77.64 and a 200-day moving average price of $71.45. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $87.86.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.95 billion during the quarter, compared to analysts' expectations of $6.64 billion.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.73%. Gilead Sciences's payout ratio is currently 855.56%.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company's stock, valued at $6,614,559.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares of the company's stock, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock worth $3,002,940 in the last ninety days. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Centaurus Financial Inc. boosted its holdings in Gilead Sciences by 12.4% in the second quarter. Centaurus Financial Inc. now owns 4,798 shares of the biopharmaceutical company's stock valued at $329,000 after acquiring an additional 529 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gilead Sciences in the 2nd quarter valued at $7,847,000. Verity & Verity LLC increased its position in shares of Gilead Sciences by 11.1% during the second quarter. Verity & Verity LLC now owns 345,695 shares of the biopharmaceutical company's stock worth $23,718,000 after buying an additional 34,482 shares during the period. Newbridge Financial Services Group Inc. raised its stake in Gilead Sciences by 144.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 4,165 shares of the biopharmaceutical company's stock worth $286,000 after buying an additional 2,462 shares during the last quarter. Finally, Lazari Capital Management Inc. lifted its holdings in Gilead Sciences by 11.9% in the second quarter. Lazari Capital Management Inc. now owns 22,995 shares of the biopharmaceutical company's stock valued at $1,578,000 after buying an additional 2,448 shares during the period. 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.