Gilead Sciences (NASDAQ:GILD) Releases Earnings Results, Beats Expectations By $0.17 EPS

Gilead Sciences (NASDAQ:GILD - Get Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.49) by $0.17, Briefing.com reports. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. Gilead Sciences's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. Gilead Sciences updated its FY24 guidance to $3.45-3.85 EPS and its FY 2024 guidance to 3.450-3.850 EPS.

Gilead Sciences Stock Performance

Shares of GILD stock traded down $1.81 during trading hours on Thursday, hitting $65.27. 15,163,484 shares of the company were exchanged, compared to its average volume of 7,415,576. The firm has a fifty day simple moving average of $71.56 and a 200 day simple moving average of $76.39. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 52-week low of $65.09 and a 52-week high of $87.86. The stock has a market capitalization of $81.27 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.96 and a beta of 0.19.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.72%. This is a boost from Gilead Sciences's previous quarterly dividend of $0.75. Gilead Sciences's dividend payout ratio (DPR) is currently 68.44%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada lowered their target price on Gilead Sciences from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 14th. 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 downgraded Gilead Sciences from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 19th. Mizuho cut their price target on Gilead Sciences from $101.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, February 22nd. Finally, Truist Financial cut Gilead Sciences from a "buy" rating to a "hold" rating and cut their price target for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $84.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.