Gilead Sciences, Inc. (NASDAQ:GILD) – Analysts at Leerink Swann reduced their Q3 2017 earnings estimates for shares of Gilead Sciences in a note issued to investors on Monday. Leerink Swann analyst G. Porges now expects that the biopharmaceutical company will earn $2.01 per share for the quarter, down from their previous estimate of $2.32. Leerink Swann has a “Market Perform” rating and a $85.00 price objective on the stock. Leerink Swann also issued estimates for Gilead Sciences’ Q4 2017 earnings at $1.73 EPS, FY2017 earnings at $8.44 EPS, FY2018 earnings at $7.20 EPS, FY2019 earnings at $7.10 EPS, FY2020 earnings at $7.48 EPS and FY2021 earnings at $7.90 EPS.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. Gilead Sciences’s revenue was down 8.2% on a year-over-year basis.
Other analysts also recently issued research reports about the company. TheStreet upgraded Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price target on shares of Gilead Sciences in a research note on Tuesday, July 4th. Deutsche Bank AG started coverage on Gilead Sciences in a research note on Friday, June 23rd. They set a “buy” rating and a $79.00 price target on the stock. Finally, Redburn Partners started coverage on Gilead Sciences in a research note on Wednesday, July 26th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $85.64.
Gilead Sciences (GILD) opened at 81.59 on Wednesday. Gilead Sciences has a 12-month low of $63.76 and a 12-month high of $86.27. The firm has a 50-day moving average price of $82.70 and a 200-day moving average price of $72.55. The company has a market cap of $106.55 billion, a P/E ratio of 8.86 and a beta of 1.14.
Several hedge funds have recently bought and sold shares of GILD. Parnassus Investments CA grew its position in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after purchasing an additional 4,556,901 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after purchasing an additional 2,727,063 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Gilead Sciences by 35.0% in the second quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock valued at $736,667,000 after purchasing an additional 2,700,600 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Gilead Sciences by 2.4% in the second quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock valued at $6,571,355,000 after purchasing an additional 2,148,697 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Gilead Sciences by 50.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,191,622 shares of the biopharmaceutical company’s stock valued at $438,244,000 after purchasing an additional 2,062,886 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.
In other Gilead Sciences news, EVP Gregg H. Alton sold 25,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $82.65, for a total transaction of $2,066,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total value of $5,563,041.38. Following the completion of the sale, the insider now owns 3,199,969 shares of the company’s stock, valued at $242,749,648.34. The disclosure for this sale can be found here. Insiders have sold 446,819 shares of company stock valued at $36,338,919 in the last three months. Insiders own 1.30% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 15th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.55%. Gilead Sciences’s payout ratio is currently 22.58%.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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