Zacks: Brokerages Expect Gilead Sciences, Inc. (GILD) Will Announce Quarterly Sales of $5.70 Billion
Equities analysts expect Gilead Sciences, Inc. (NASDAQ:GILD) to announce $5.70 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Gilead Sciences’ earnings, with the highest sales estimate coming in at $6.05 billion and the lowest estimate coming in at $5.27 billion. Gilead Sciences posted sales of $7.32 billion during the same quarter last year, which suggests a negative year over year growth rate of 22.1%. The business is expected to announce its next quarterly earnings report on Tuesday, February 6th.
On average, analysts expect that Gilead Sciences will report full year sales of $5.70 billion for the current financial year, with estimates ranging from $25.42 billion to $26.21 billion. For the next fiscal year, analysts expect that the business will post sales of $22.15 billion per share, with estimates ranging from $19.77 billion to $23.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Gilead Sciences.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.14. The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.40 billion. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.75 EPS.
Several equities research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Gilead Sciences from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a report on Friday, October 27th. BMO Capital Markets reduced their target price on shares of Gilead Sciences from $89.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, October 27th. J P Morgan Chase & Co set a $85.00 price objective on shares of Gilead Sciences and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Leerink Swann increased their price objective on shares of Gilead Sciences from $84.00 to $85.00 and gave the company a “market perform” rating in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.92.
Gilead Sciences (GILD) traded up $0.75 during trading on Wednesday, reaching $73.77. 7,698,200 shares of the company traded hands, compared to its average volume of 9,360,261. The stock has a market cap of $95,383.76, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of -1.22 and a beta of 1.13. Gilead Sciences has a one year low of $63.76 and a one year high of $86.27. The company has a quick ratio of 4.74, a current ratio of 3.68 and a debt-to-equity ratio of 1.10.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.82%. Gilead Sciences’s dividend payout ratio is currently 23.69%.
In other news, EVP Gregg H. Alton sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $79.00, for a total transaction of $3,950,000.00. Following the transaction, the executive vice president now owns 113,237 shares in the company, valued at $8,945,723. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James R. Meyers sold 60,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $83.19, for a total value of $4,991,400.00. Following the transaction, the executive vice president now owns 62,715 shares in the company, valued at approximately $5,217,260.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 446,819 shares of company stock worth $36,269,486. Insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Welch Investments LLC purchased a new position in Gilead Sciences in the third quarter valued at about $108,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in Gilead Sciences by 583.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 1,400 shares during the last quarter. Penserra Capital Management LLC grew its stake in Gilead Sciences by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 144 shares during the last quarter. American Beacon Advisors Inc. purchased a new position in Gilead Sciences in the first quarter valued at about $143,000. Finally, Horan Capital Advisors LLC. purchased a new position in Gilead Sciences in the third quarter valued at about $144,000. Institutional investors own 74.38% of the company’s stock.
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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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