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In the latest trading session, Gilead Sciences (GILD) closed at $66.16, marking a -1.15% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.22% for the day. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq lost 0.52%.

The HIV and hepatitis C drugmaker's stock has dropped by 9.53% in the past month, falling short of the Medical sector's loss of 6.22% and the S&P 500's loss of 1.66%.

The investment community will be closely monitoring the performance of Gilead Sciences in its forthcoming earnings report. The company is scheduled to release its earnings on April 25, 2024. In that report, analysts expect Gilead Sciences to post earnings of $1.03 per share. This would mark a year-over-year decline of 24.82%. Simultaneously, our latest consensus estimate expects the revenue to be $6.29 billion, showing a 0.92% drop compared to the year-ago quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.55 per share and revenue of $27.47 billion. These totals would mark changes of -2.53% and +1.29%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gilead Sciences. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.41% lower within the past month. Right now, Gilead Sciences possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Gilead Sciences is currently trading at a Forward P/E ratio of 10.22. This denotes a discount relative to the industry's average Forward P/E of 22.13.

We can also see that GILD currently has a PEG ratio of 0.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.82 at the close of the market yesterday.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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