Gilead Sciences, Inc. (GILD) Expected to Announce Quarterly Sales of $6.31 Billion
Brokerages forecast that Gilead Sciences, Inc. (NASDAQ:GILD) will announce sales of $6.31 billion for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Gilead Sciences’ earnings. The highest sales estimate is $6.76 billion and the lowest is $6.06 billion. Gilead Sciences posted sales of $7.50 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 15.9%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, October 26th.
On average, analysts expect that Gilead Sciences will report full year sales of $6.31 billion for the current year, with estimates ranging from $25.46 billion to $26.52 billion. For the next year, analysts forecast that the company will post sales of $22.81 billion per share, with estimates ranging from $21.32 billion to $25.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Gilead Sciences.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, topping the consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the business posted $3.08 earnings per share. The company’s quarterly revenue was down 8.2% on a year-over-year basis.
A number of analysts have recently commented on GILD shares. Argus upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Thursday, August 31st. Deutsche Bank AG restated a “buy” rating and set a $81.00 price objective on shares of Gilead Sciences in a report on Thursday, August 31st. Credit Suisse Group restated an “outperform” rating and set a $85.00 price objective (up from $79.00) on shares of Gilead Sciences in a report on Tuesday, August 29th. BidaskClub upgraded Gilead Sciences from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Vetr upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $83.66 price objective for the company in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $85.64.
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Gilead Sciences (GILD) traded down 0.87% on Friday, hitting $80.88. The stock had a trading volume of 3,532,765 shares. The company’s 50-day moving average price is $82.70 and its 200 day moving average price is $72.55. Gilead Sciences has a one year low of $63.76 and a one year high of $86.27. The firm has a market cap of $105.62 billion, a price-to-earnings ratio of 8.78 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.55%. Gilead Sciences’s dividend payout ratio is presently 22.58%.
In related news, EVP Gregg H. Alton sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $82.65, for a total transaction of $2,066,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John C. Martin sold 73,333 shares of the firm’s 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 of the company’s stock, valued at $242,749,648.34. The disclosure for this sale can be found here. Insiders have sold 446,819 shares of company stock worth $36,338,919 in the last quarter. Company insiders own 1.30% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Fulton Bank N.A. boosted its holdings in Gilead Sciences by 5.0% during the third quarter. Fulton Bank N.A. now owns 50,157 shares of the biopharmaceutical company’s stock worth $4,064,000 after buying an additional 2,391 shares in the last quarter. Curbstone Financial Management Corp boosted its holdings in Gilead Sciences by 101.6% during the third quarter. Curbstone Financial Management Corp now owns 28,170 shares of the biopharmaceutical company’s stock worth $2,282,000 after buying an additional 14,200 shares in the last quarter. Perpetual Ltd boosted its holdings in Gilead Sciences by 10.1% during the second quarter. Perpetual Ltd now owns 175,900 shares of the biopharmaceutical company’s stock worth $12,450,000 after buying an additional 16,100 shares in the last quarter. Intl Fcstone Inc. bought a new stake in Gilead Sciences during the second quarter worth approximately $1,110,000. Finally, Griffin Asset Management Inc. bought a new stake in Gilead Sciences during the second quarter worth approximately $1,151,000. Hedge funds and other institutional investors own 73.97% of the company’s stock.
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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