Gilead Sciences, Inc. (NASDAQ:GILD) – Stock analysts at Leerink Swann raised their Q3 2017 earnings estimates for shares of Gilead Sciences in a report issued on Thursday. Leerink Swann analyst G. Porges now anticipates that the biopharmaceutical company will post earnings of $2.26 per share for the quarter, up from their previous forecast of $2.15. Leerink Swann currently has a “Hold” rating and a $74.00 target price on the stock. Leerink Swann also issued estimates for Gilead Sciences’ FY2020 earnings at $7.81 EPS.
Other analysts also recently issued research reports about the company. Jefferies Group LLC reissued a “hold” rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Tuesday, July 11th. Vetr downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $74.88 target price on the stock. in a research note on Tuesday, April 25th. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $82.00 price objective (up previously from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Gilead Sciences in a research note on Wednesday, May 3rd. Twelve equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $80.31.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.45. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. Gilead Sciences’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GILD. Norges Bank bought a new position in Gilead Sciences during the fourth quarter valued at approximately $997,048,000. Parnassus Investments CA raised its position in 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 buying an additional 4,556,901 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 buying an additional 2,727,063 shares during the last quarter. Numeric Investors LLC raised its position in Gilead Sciences by 173.5% in the fourth quarter. Numeric Investors LLC now owns 2,820,505 shares of the biopharmaceutical company’s stock valued at $201,976,000 after buying an additional 1,789,101 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its position in Gilead Sciences by 6,595.9% in the second quarter. Harbour Capital Advisors LLC now owns 1,221,804 shares of the biopharmaceutical company’s stock valued at $17,262,000 after buying an additional 1,203,557 shares during the last quarter. 73.99% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John Francis Cogan sold 9,943 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $67.25, for a total value of $668,666.75. Following the completion of the transaction, the director now directly owns 47,562 shares of the company’s stock, valued at approximately $3,198,544.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the completion of the transaction, the executive vice president now directly owns 102,988 shares of the company’s stock, valued at $7,318,327.28. The disclosure for this sale can be found here. Insiders sold a total of 128,276 shares of company stock valued at $9,190,610 over the last quarter. Company insiders own 1.30% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is 22.58%.
About Gilead Sciences
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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