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Gilead Sciences (GILD) Gains As Market Dips: What You Should Know
In the latest trading session, Gilead Sciences (GILD - Free Report) closed at $84.02, marking a +0.95% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, lost 3.22%.
Heading into today, shares of the HIV and hepatitis C drugmaker had lost 1.79% over the past month, lagging the Medical sector's loss of 0.32% and the S&P 500's gain of 4.64% in that time.
Gilead Sciences will be looking to display strength as it nears its next earnings release, which is expected to be February 2, 2023. In that report, analysts expect Gilead Sciences to post earnings of $1.49 per share. This would mark year-over-year growth of 115.94%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.58 billion, down 9.2% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Gilead Sciences. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Gilead Sciences is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Gilead Sciences has a Forward P/E ratio of 12.23 right now. This valuation marks a discount compared to its industry's average Forward P/E of 20.73.
It is also worth noting that GILD currently has a PEG ratio of 0.8. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. GILD's industry had an average PEG ratio of 1.63 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.