Q3 2016 EPS Estimates for Gilead Sciences Inc. (GILD) Decreased by Analyst
Gilead Sciences Inc. (NASDAQ:GILD) – Equities researchers at Leerink Swann dropped their Q3 2016 earnings estimates for Gilead Sciences in a research note issued on Friday. Leerink Swann analyst G. Porges now expects that the firm will post earnings per share of $2.81 for the quarter, down from their prior forecast of $2.91. Leerink Swann currently has a “Outperform” rating and a $112.00 price target on the stock.
Several other equities research analysts also recently issued reports on GILD. Zacks Investment Research downgraded Gilead Sciences from a “hold” rating to a “sell” rating in a report on Monday, June 13th. Jefferies Group reiterated a “hold” rating and issued a $96.00 price objective on shares of Gilead Sciences in a report on Sunday, June 12th. Morgan Stanley reiterated a “hold” rating and issued a $103.00 price objective on shares of Gilead Sciences in a report on Wednesday, June 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $97.00 price objective on shares of Gilead Sciences in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $120.00 price objective on shares of Gilead Sciences in a report on Wednesday, June 29th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $104.71.
Gilead Sciences (NASDAQ:GILD) opened at 75.24 on Monday. The stock has a market capitalization of $99.29 billion, a PE ratio of 6.60 and a beta of 1.10. Gilead Sciences has a 52 week low of $74.92 and a 52 week high of $111.11. The stock has a 50 day moving average price of $78.95 and a 200 day moving average price of $85.05.
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Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.06. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The firm earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same period last year, the business posted $3.15 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in GILD. BNP Paribas Arbitrage SA boosted its stake in shares of Gilead Sciences by 0.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,170,640 shares of the biopharmaceutical company’s stock worth $181,075,000 after buying an additional 8,430 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Gilead Sciences by 17.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,739,537 shares of the biopharmaceutical company’s stock worth $159,794,000 after buying an additional 258,807 shares during the period. Geode Capital Management LLC boosted its stake in shares of Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock worth $1,137,969,000 after buying an additional 161,505 shares during the period. Temasek Holdings Private Ltd boosted its stake in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock worth $1,270,471,000 after buying an additional 1,035,592 shares during the period. Finally, Omega Advisors Inc. bought a new stake in shares of Gilead Sciences during the first quarter worth approximately $47,491,000. Hedge funds and other institutional investors own 77.94% of the company’s stock.
In other Gilead Sciences news, EVP Paul Rutherford Carter sold 2,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $79.81, for a total transaction of $159,620.00. Following the sale, the executive vice president now owns 64,122 shares in the company, valued at approximately $5,117,576.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin E. Lofton sold 3,500 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total value of $286,895.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 16.56%.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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