Gilead Sciences (NASDAQ:GILD) Issues FY 2022 Earnings Guidance

Gilead Sciences (NASDAQ:GILDGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $6.35-$6.75 for the period, compared to the consensus EPS estimate of $6.57. The company issued revenue guidance of $24.50 billion-$25.00 billion, compared to the consensus revenue estimate of $24.57 billion. Gilead Sciences also updated its FY22 guidance to $6.35-6.75 EPS.

Wall Street Analyst Weigh In

Several research firms have recently commented on GILD. Royal Bank of Canada boosted their price target on shares of Gilead Sciences from $76.00 to $77.00 and gave the company an outperform rating in a report on Tuesday, April 12th. Morgan Stanley boosted their price objective on shares of Gilead Sciences from $63.00 to $65.00 and gave the stock an equal weight rating in a research note on Friday, July 15th. Piper Sandler reduced their price objective on shares of Gilead Sciences from $73.00 to $69.00 and set a neutral rating for the company in a research note on Monday, May 16th. BMO Capital Markets began coverage on shares of Gilead Sciences in a research note on Tuesday, June 7th. They set a hold rating and a $63.00 price objective for the company. Finally, Cantor Fitzgerald began coverage on shares of Gilead Sciences in a research note on Tuesday, July 12th. They set a neutral rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $72.07.

Gilead Sciences Stock Performance

NASDAQ GILD traded down $0.82 during mid-day trading on Friday, reaching $61.09. 6,034,024 shares of the stock were exchanged, compared to its average volume of 9,087,971. The business’s 50 day moving average is $61.55 and its 200-day moving average is $61.93. Gilead Sciences has a 1 year low of $57.17 and a 1 year high of $74.12. The company has a market capitalization of $76.63 billion, a P/E ratio of 18.63, a P/E/G ratio of 0.63 and a beta of 0.34. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.30 and a current ratio of 1.49.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 89.02%.

Institutional Trading of Gilead Sciences

Hedge funds have recently added to or reduced their stakes in the company. Eudaimonia Partners LLC acquired a new position in Gilead Sciences during the first quarter worth $203,000. Golden State Wealth Management LLC acquired a new position in Gilead Sciences during the first quarter worth $223,000. Nations Financial Group Inc. IA ADV raised its position in shares of Gilead Sciences by 35.1% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,196 shares of the biopharmaceutical company’s stock valued at $249,000 after buying an additional 1,091 shares during the last quarter. Kidder Stephen W acquired a new stake in shares of Gilead Sciences in the first quarter valued at about $305,000. Finally, Ancora Advisors LLC increased its position in Gilead Sciences by 8.3% during the first quarter. Ancora Advisors LLC now owns 5,223 shares of the biopharmaceutical company’s stock worth $338,000 after purchasing an additional 399 shares during the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Company Profile

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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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.

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

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