Leerink Partnrs Weighs in on Gilead Sciences FY2024 Earnings

Gilead Sciences, Inc. (NASDAQ:GILD) – Equities research analysts at Leerink Partnrs lifted their FY2024 EPS estimates for Gilead Sciences in a research report issued to clients and investors on Wednesday, December 11th. Leerink Partnrs analyst D. Graybosch now expects that the biopharmaceutical company will earn $4.48 per share for the year, up from their previous estimate of $3.66. Leerink Partnrs currently 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.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays lifted their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Citigroup assumed coverage on Gilead Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Piper Sandler upped their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.43.

Gilead Sciences Trading Up 0.3 %

NASDAQ GILD opened at $91.86 on Friday. The stock has a market capitalization of $114.48 billion, a P/E ratio of 1,026.44, a P/E/G ratio of 2.38 and a beta of 0.18. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $98.90. The firm has a 50-day moving average price of $89.82 and a 200 day moving average price of $79.26. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

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

Gilead Sciences Announces Dividend

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

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 447,234 shares of company stock worth $41,288,086 in the last three months. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds have recently bought and sold shares of GILD. Lantz Financial LLC grew its stake in Gilead Sciences by 3.5% during the 2nd quarter. Lantz Financial LLC now owns 24,920 shares of the biopharmaceutical company’s stock valued at $1,710,000 after purchasing an additional 840 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Gilead Sciences in the 2nd quarter worth approximately $63,000. Miracle Mile Advisors LLC grew its position in shares of Gilead Sciences by 3.5% in the 2nd quarter. Miracle Mile Advisors LLC now owns 7,845 shares of the biopharmaceutical company’s stock worth $538,000 after acquiring an additional 266 shares in the last quarter. Outlook Wealth Advisors LLC acquired a new position in shares of Gilead Sciences in the 2nd quarter worth approximately $334,000. Finally, Blue Trust Inc. grew its position in shares of Gilead Sciences by 280.3% in the 2nd quarter. Blue Trust Inc. now owns 4,712 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 3,473 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

About Gilead Sciences

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.