Gilead Sciences, Inc. (GILD) Announces Quarterly Earnings Results
Gilead Sciences, Inc. (NASDAQ:GILD) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.42, Bloomberg Earnings reports. Gilead Sciences had a return on equity of 76.64% and a net margin of 43.42%. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the company posted $3.08 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year.
Gilead Sciences (NASDAQ GILD) traded up 0.61% during midday trading on Wednesday, hitting $74.19. The stock had a trading volume of 10,695,344 shares. The stock has a market capitalization of $96.95 billion, a price-to-earnings ratio of 7.84 and a beta of 1.21. The company’s 50 day moving average price is $68.84 and its 200-day moving average price is $68.56. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $84.15.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.80%. Gilead Sciences’s dividend payout ratio is currently 21.99%.
GILD has been the subject of several recent analyst reports. Zacks Investment Research upgraded Gilead Sciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 11th. William Blair reiterated an “outperform” rating on shares of Gilead Sciences in a research note on Friday, June 16th. Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price objective on shares of Gilead Sciences in a research note on Thursday, April 6th. Morgan Stanley reiterated an “equal weight” rating on shares of Gilead Sciences in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $79.00 price objective on shares of Gilead Sciences in a research note on Friday, May 5th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $80.09.
In related news, EVP Gregg H. Alton sold 40,000 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the completion of the sale, the executive vice president now directly owns 137,488 shares of the company’s stock, valued at $10,174,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.06, for a total value of $355,300.00. Following the sale, 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 have sold 128,276 shares of company stock valued at $9,190,610 over the last ninety days. 1.30% of the stock is currently owned by company insiders.
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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