Leerink Swann Weighs in on Gilead Sciences, Inc.’s FY2018 Earnings (GILD)
Gilead Sciences, Inc. (NASDAQ:GILD) – Research analysts at Leerink Swann increased their FY2018 earnings estimates for shares of Gilead Sciences in a report released on Thursday. Leerink Swann analyst G. Porges now anticipates that the biopharmaceutical company will post earnings per share of $7.27 for the year, up from their previous forecast of $7.20. Leerink Swann has a “Market Perform” rating and a $85.00 price objective on the stock. Leerink Swann also issued estimates for Gilead Sciences’ FY2019 earnings at $7.21 EPS, FY2020 earnings at $7.64 EPS and FY2021 earnings at $8.10 EPS.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the previous year, the business earned $3.08 EPS. Gilead Sciences’s quarterly revenue was down 8.2% compared to the same quarter last year.
Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a “hold” rating and set a $80.00 target price on shares of Gilead Sciences in a report on Tuesday, July 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $82.00 price target (up previously from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday. Robert W. Baird reiterated an “outperform” rating and issued a $87.00 price target on shares of Gilead Sciences in a research note on Thursday, July 13th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $82.00 price target on shares of Gilead Sciences in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences currently has an average rating of “Buy” and an average price target of $85.64.
Shares of Gilead Sciences (GILD) opened at 81.21 on Monday. Gilead Sciences has a 1-year low of $63.76 and a 1-year high of $86.27. The firm has a market cap of $106.05 billion, a price-to-earnings ratio of 8.82 and a beta of 1.14. The company has a 50 day moving average of $82.63 and a 200 day moving average of $72.65.
Large investors have recently bought and sold shares of the stock. Seizert Capital Partners LLC boosted its position in Gilead Sciences by 4.6% during the 1st quarter. Seizert Capital Partners LLC now owns 632,574 shares of the biopharmaceutical company’s stock worth $42,964,000 after buying an additional 27,547 shares during the period. Linscomb & Williams Inc. boosted its position in Gilead Sciences by 3.0% during the 1st quarter. Linscomb & Williams Inc. now owns 5,275 shares of the biopharmaceutical company’s stock worth $358,000 after buying an additional 154 shares during the period. Investment Centers of America Inc. boosted its position in Gilead Sciences by 7.2% during the 1st quarter. Investment Centers of America Inc. now owns 29,064 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 1,958 shares during the period. Capital Asset Advisory Services LLC acquired a new stake in Gilead Sciences during the 2nd quarter worth approximately $875,000. Finally, First PREMIER Bank boosted its position in Gilead Sciences by 9.0% during the 2nd quarter. First PREMIER Bank now owns 21,533 shares of the biopharmaceutical company’s stock worth $1,524,000 after buying an additional 1,787 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
In related news, CFO Robin L. Washington sold 51,820 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the sale, the chief financial officer now directly owns 43,352 shares in the company, valued at approximately $3,684,920. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the sale, the insider now owns 3,199,969 shares in the company, valued at $242,749,648.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 446,819 shares of company stock worth $36,338,919. 1.30% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Friday, September 15th were paid a $0.52 dividend. 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 2.56%. Gilead Sciences’s payout ratio is currently 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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