Gilead Sciences Inc. (NASDAQ:GILD) – Investment analysts at Leerink Swann reduced their Q3 2016 earnings per share (EPS) estimates for Gilead Sciences in a report released on Friday. Leerink Swann analyst G. Porges now anticipates that the firm will earn $2.81 per share for the quarter, down from their previous forecast of $2.91. Leerink Swann currently has a “Outperform” rating and a $112.00 target price on the stock.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.06. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The firm had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the prior year, the firm posted $3.15 earnings per share. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year.
GILD has been the subject of a number of other research reports. Royal Bank Of Canada lifted their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, October 3rd. Jefferies Group decreased their price target on shares of Gilead Sciences from $93.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, August 31st. Zacks Investment Research upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $108.00 price target on shares of Gilead Sciences in a research note on Wednesday, August 31st. Finally, Vetr raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $93.97 price objective on the stock in a report on Tuesday, July 26th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $104.71.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 75.49 on Monday. The company’s 50-day moving average is $78.79 and its 200-day moving average is $84.83. Gilead Sciences has a one year low of $74.92 and a one year high of $111.11. The stock has a market capitalization of $99.62 billion, a P/E ratio of 6.63 and a beta of 1.10.
A number of hedge funds have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Gilead Sciences during the second quarter worth about $427,750,000. Capital World Investors increased its stake in Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock worth $1,277,907,000 after buying an additional 3,380,000 shares during the period. Investec Asset Management LTD acquired a new stake in Gilead Sciences during the first quarter worth about $280,342,000. Parnassus Investments CA increased its stake in Gilead Sciences by 45.4% in the second quarter. Parnassus Investments CA now owns 8,460,484 shares of the biopharmaceutical company’s stock worth $705,774,000 after buying an additional 2,640,284 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Gilead Sciences during the first quarter worth about $180,268,000. 77.93% of the stock is owned by hedge funds and other institutional investors.
In related news, insider John C. Martin sold 100,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $80.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now owns 4,119,727 shares of the company’s stock, valued at approximately $331,638,023.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $81.84, for a total transaction of $409,200.00. Following the sale, the executive vice president now directly owns 132,964 shares of the company’s stock, valued at approximately $10,881,773.76. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is currently 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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