Gilead Sciences, Inc. (NASDAQ:GILD) to Post FY2023 Earnings of $9.62 Per Share, Oppenheimer Forecasts

Gilead Sciences, Inc. (NASDAQ:GILD) – Analysts at Oppenheimer increased their FY2023 earnings per share (EPS) estimates for shares of Gilead Sciences in a research note issued to investors on Monday, September 14th. Oppenheimer analyst H. Singh now expects that the biopharmaceutical company will earn $9.62 per share for the year, up from their previous forecast of $9.53. Oppenheimer has a “Outperform” rating and a $105.00 price objective on the stock. Oppenheimer also issued estimates for Gilead Sciences’ FY2024 earnings at $10.80 EPS.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.46). The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.24 billion. Gilead Sciences had a positive return on equity of 33.59% and a negative net margin of 1.16%.

A number of other equities research analysts have also recently issued reports on GILD. SVB Leerink decreased their price objective on shares of Gilead Sciences from $94.00 to $88.00 and set an “outperform” rating for the company in a report on Monday. Royal Bank of Canada cut their target price on shares of Gilead Sciences from $84.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $74.00 to $79.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 19th. Raymond James reissued a “hold” rating on shares of Gilead Sciences in a research report on Monday. Finally, Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the company. Gilead Sciences has a consensus rating of “Hold” and a consensus price target of $78.78.

Shares of NASDAQ:GILD opened at $65.65 on Tuesday. The stock has a market capitalization of $82.31 billion, a PE ratio of -273.53, a P/E/G ratio of 0.67 and a beta of 0.56. Gilead Sciences has a 1 year low of $60.89 and a 1 year high of $85.97. The firm has a fifty day moving average price of $67.58 and a 200 day moving average price of $73.83. The company has a current ratio of 2.33, a quick ratio of 2.23 and a debt-to-equity ratio of 1.22.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Twin Focus Capital Partners LLC increased its stake in Gilead Sciences by 2.1% in the first quarter. Twin Focus Capital Partners LLC now owns 6,537 shares of the biopharmaceutical company’s stock valued at $489,000 after acquiring an additional 137 shares during the period. Malaga Cove Capital LLC increased its stake in Gilead Sciences by 0.6% in the second quarter. Malaga Cove Capital LLC now owns 24,813 shares of the biopharmaceutical company’s stock valued at $1,909,000 after acquiring an additional 143 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Gilead Sciences by 4.2% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,605 shares of the biopharmaceutical company’s stock valued at $270,000 after acquiring an additional 144 shares during the period. Anderson Fisher LLC increased its stake in Gilead Sciences by 0.9% in the second quarter. Anderson Fisher LLC now owns 17,237 shares of the biopharmaceutical company’s stock valued at $1,326,000 after acquiring an additional 149 shares during the period. Finally, Archford Capital Strategies LLC increased its stake in Gilead Sciences by 1.5% in the second quarter. Archford Capital Strategies LLC now owns 9,912 shares of the biopharmaceutical company’s stock valued at $763,000 after acquiring an additional 149 shares during the period. 77.87% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.68 dividend. The ex-dividend date is Monday, September 14th. This represents a $2.72 dividend on an annualized basis and a yield of 4.14%. Gilead Sciences’s payout ratio is currently 44.30%.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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Earnings History and Estimates for Gilead Sciences (NASDAQ:GILD)

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