Oppenheimer Holdings Weighs in on Gilead Sciences, Inc.’s Q3 2017 Earnings (GILD)
Gilead Sciences, Inc. (NASDAQ:GILD) – Analysts at Oppenheimer Holdings issued their Q3 2017 earnings estimates for Gilead Sciences in a report released on Wednesday. Oppenheimer Holdings analyst H. Singh anticipates that the biopharmaceutical company will earn $2.10 per share for the quarter. Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Gilead Sciences’ Q4 2017 earnings at $1.85 EPS, FY2019 earnings at $7.23 EPS and FY2020 earnings at $7.37 EPS.
Other equities analysts also recently issued research reports about the company. Jefferies Group LLC restated a “hold” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Tuesday, July 11th. BMO Capital Markets restated an “outperform” rating and issued a $82.00 target price (up previously from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. Robert W. Baird restated an “outperform” rating and issued a $87.00 target price on shares of Gilead Sciences in a research note on Thursday, July 13th. J P Morgan Chase & Co restated an “overweight” rating and issued a $82.00 target price on shares of Gilead Sciences in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded Gilead Sciences from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. Twelve investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $85.66.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 82.14 on Monday. The firm has a market capitalization of $107.27 billion, a PE ratio of 8.92 and a beta of 1.14. The stock has a 50 day moving average price of $80.97 and a 200-day moving average price of $71.66. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $86.27.
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 Zacks’ 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 company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the firm posted $3.08 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis.
Several large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Gilead Sciences by 1.9% during the second quarter. BlackRock Inc. now owns 104,906,494 shares of the biopharmaceutical company’s stock worth $7,425,281,000 after acquiring an additional 1,937,031 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Gilead Sciences by 2.4% during the second quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock worth $6,571,355,000 after acquiring an additional 2,148,697 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Gilead Sciences by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 30,881,405 shares of the biopharmaceutical company’s stock worth $2,185,784,000 after acquiring an additional 310,607 shares in the last quarter. FMR LLC lifted its position in shares of Gilead Sciences by 1.1% during the second quarter. FMR LLC now owns 23,037,303 shares of the biopharmaceutical company’s stock worth $1,630,581,000 after acquiring an additional 258,005 shares in the last quarter. Finally, Parnassus Investments CA lifted its position in shares of Gilead Sciences by 37.4% during the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after acquiring an additional 4,556,901 shares in the last quarter. Hedge funds and other institutional investors own 73.99% of the company’s stock.
In other Gilead Sciences news, EVP Gregg H. Alton sold 40,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 137,488 shares in the company, valued at $10,174,112. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregg H. Alton sold 25,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $82.65, for a total value of $2,066,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 486,819 shares of company stock worth $39,298,919. Company insiders own 1.30% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 15th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.53%. Gilead Sciences’s dividend payout ratio is currently 22.58%.
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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