Q3 2016 Earnings Forecast for Gilead Sciences Inc. Issued By Leerink Swann (GILD)
Gilead Sciences Inc. (NASDAQ:GILD) – Analysts at Leerink Swann reduced their Q3 2016 earnings per share estimates for Gilead Sciences in a report released on Tuesday. Leerink Swann analyst G. Porges now anticipates that the firm will post earnings of $2.91 per share for the quarter, down from their prior estimate of $2.95. Leerink Swann has a “Market Perform” rating and a $94.00 price objective on the stock. Leerink Swann also issued estimates for Gilead Sciences’ FY2016 earnings at $11.89 EPS, FY2017 earnings at $11.12 EPS, FY2018 earnings at $10.66 EPS, FY2019 earnings at $10.63 EPS and FY2020 earnings at $11.33 EPS.
Several other equities research analysts have also commented on the stock. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $108.00 price target on shares of Gilead Sciences in a research report on Monday, August 15th. Jefferies Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their price target for the company from $76.89 to $91.00 in a research report on Tuesday, September 6th. Morgan Stanley reaffirmed a “hold” rating and set a $103.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 15th. Berenberg Bank assumed coverage on shares of Gilead Sciences in a research report on Thursday, September 22nd. They set a “buy” rating for the company. Finally, Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a report on Sunday, July 10th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Gilead Sciences presently has a consensus rating of “Buy” and an average target price of $104.34.
Gilead Sciences (NASDAQ:GILD) opened at 77.86 on Thursday. Gilead Sciences has a 12 month low of $76.67 and a 12 month high of $111.11. The stock has a 50 day moving average of $79.41 and a 200 day moving average of $85.61. The firm has a market capitalization of $102.75 billion, a PE ratio of 6.83 and a beta of 1.06.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the consensus estimate of $3.02 by $0.06. The company earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 EPS.
A number of large investors have recently modified their holdings of GILD. Bank of Montreal Can acquired a new stake in shares of Gilead Sciences during the second quarter valued at $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 purchased a new stake in Gilead Sciences during the first quarter worth approximately $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. purchased a new stake in Gilead Sciences during the first quarter worth approximately $180,268,000. 77.94% of the stock is owned by institutional investors and hedge funds.
In other Gilead Sciences news, EVP Gregg H. Alton sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $81.84, for a total value of $409,200.00. Following the completion of the sale, the executive vice president now owns 132,964 shares of the company’s stock, valued at $10,881,773.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John F. Milligan sold 112,000 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $84.33, for a total value of $9,444,960.00. Following the completion of the sale, the chief executive officer now directly owns 1,170,963 shares of the company’s stock, valued at approximately $98,747,309.79. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.41%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is presently 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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