$6.25 Billion in Sales Expected for Gilead Sciences, Inc. (GILD) This Quarter
Analysts expect that Gilead Sciences, Inc. (NASDAQ:GILD) will announce sales of $6.25 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Gilead Sciences’ earnings. The lowest sales estimate is $6.07 billion and the highest is $6.47 billion. Gilead Sciences reported sales of $7.78 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 19.7%. The firm is expected to report its next quarterly earnings results on Monday, July 24th.
According to Zacks, analysts expect that Gilead Sciences will report full year sales of $6.25 billion for the current year, with estimates ranging from $23.03 billion to $25.29 billion. For the next fiscal year, analysts forecast that the firm will report sales of $22.14 billion per share, with estimates ranging from $20.41 billion to $24.32 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Gilead Sciences.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.18 by $0.02. Gilead Sciences had a net margin of 44.43% and a return on equity of 92.36%. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.66 billion.
Several equities analysts recently issued reports on GILD shares. Citigroup Inc lifted their price target on shares of Gilead Sciences to $87.00 in a report on Thursday, January 26th. William Blair reissued an “outperform” rating on shares of Gilead Sciences in a report on Saturday, January 28th. Cowen and Company set a $100.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a report on Monday, February 6th. Credit Suisse Group AG cut their price target on shares of Gilead Sciences from $93.00 to $79.00 and set an “outperform” rating for the company in a report on Wednesday, February 8th. Finally, Wells Fargo & Co reissued a “market perform” rating and set a $65.50 price target (down from $79.50) on shares of Gilead Sciences in a report on Wednesday, February 8th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $80.61.
In other news, EVP Gregg H. Alton sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $67.48, for a total value of $337,400.00. Following the transaction, the executive vice president now owns 117,988 shares of the company’s stock, valued at $7,961,830.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $67.18, for a total value of $4,926,510.94. Following the completion of the transaction, the insider now directly owns 3,199,969 shares in the company, valued at approximately $214,973,917.42. The disclosure for this sale can be found here. In the last three months, insiders sold 88,276 shares of company stock worth $5,932,578. 1.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Page Arthur B increased its position in Gilead Sciences by 37.0% in the third quarter. Page Arthur B now owns 12,640 shares of the biopharmaceutical company’s stock valued at $1,001,000 after buying an additional 3,415 shares during the period. Seatown Holdings Pte. Ltd. bought a new position in Gilead Sciences during the third quarter valued at approximately $5,111,000. Violich Capital Management Inc. increased its position in Gilead Sciences by 1.2% in the third quarter. Violich Capital Management Inc. now owns 75,980 shares of the biopharmaceutical company’s stock valued at $6,012,000 after buying an additional 900 shares during the period. Massmutual Trust Co. FSB ADV bought a new position in Gilead Sciences during the fourth quarter valued at approximately $3,239,000. Finally, Nippon Life Insurance Co. increased its position in Gilead Sciences by 0.4% in the third quarter. Nippon Life Insurance Co. now owns 57,884 shares of the biopharmaceutical company’s stock valued at $4,580,000 after buying an additional 202 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Gilead Sciences (NASDAQ:GILD) traded down 0.054% on Friday, reaching $64.525. 3,289,852 shares of the company’s stock traded hands. Gilead Sciences has a 52-week low of $63.88 and a 52-week high of $88.85. The firm’s 50-day moving average is $66.44 and its 200 day moving average is $70.36. The stock has a market capitalization of $84.32 billion, a PE ratio of 6.819 and a beta of 1.11.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Friday, June 16th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Wednesday, June 14th. Gilead Sciences’s dividend payout ratio is 18.91%.
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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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