Gilead_Sciences_Pty_Ltd.jpg” alt=”Gilead Sciences logo” title=”Gilead Sciences” class=”companylogo”/>Analysts forecast that Gilead Sciences, Inc. (NASDAQ:GILD) will announce $6.15 billion in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Gilead Sciences’ earnings, with the lowest sales estimate coming in at $6.02 billion and the highest estimate coming in at $6.27 billion. Gilead Sciences reported sales of $5.14 billion during the same quarter last year, which would suggest a positive year over year growth rate of 19.6%. The firm is expected to issue its next quarterly earnings results on Thursday, July 29th.
According to Zacks, analysts expect that Gilead Sciences will report full year sales of $24.74 billion for the current fiscal year, with estimates ranging from $24.29 billion to $25.21 billion. For the next fiscal year, analysts forecast that the firm will report sales of $24.22 billion, with estimates ranging from $22.23 billion to $25.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Gilead Sciences.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 29th. The biopharmaceutical company reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.02. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.78 billion. Gilead Sciences had a net margin of 1.18% and a return on equity of 51.91%.
GILD has been the topic of several research analyst reports. Sanford C. Bernstein raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, April 1st. Morgan Stanley raised their price objective on shares of Gilead Sciences from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday, May 3rd. SVB Leerink raised their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, April 30th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 30th. Finally, TheStreet upgraded shares of Gilead Sciences from a “c” rating to a “b-” rating in a research report on Tuesday, March 30th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Gilead Sciences currently has an average rating of “Buy” and a consensus target price of $99.22.
In related news, Director Richard James Whitley sold 20,282 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $64.57, for a total transaction of $1,309,608.74. Following the transaction, the director now owns 51,404 shares of the company’s stock, valued at $3,319,156.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.12% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GILD. Eads & Heald Wealth Management bought a new position in shares of Gilead Sciences in the first quarter valued at approximately $201,000. Letko Brosseau & Associates Inc. raised its position in shares of Gilead Sciences by 11.2% in the first quarter. Letko Brosseau & Associates Inc. now owns 1,264,156 shares of the biopharmaceutical company’s stock valued at $81,702,000 after purchasing an additional 126,918 shares during the period. Zions Bancorporation N.A. raised its position in shares of Gilead Sciences by 15.5% in the first quarter. Zions Bancorporation N.A. now owns 45,337 shares of the biopharmaceutical company’s stock valued at $2,930,000 after purchasing an additional 6,077 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Gilead Sciences in the first quarter valued at approximately $7,071,000. Finally, Blume Capital Management Inc. raised its position in shares of Gilead Sciences by 22.5% in the first quarter. Blume Capital Management Inc. now owns 3,859 shares of the biopharmaceutical company’s stock valued at $249,000 after purchasing an additional 709 shares during the period. 77.18% of the stock is currently owned by hedge funds and other institutional investors.
Gilead Sciences stock opened at $66.61 on Friday. The firm has a market cap of $83.54 billion, a PE ratio of 289.62, a price-to-earnings-growth ratio of 0.63 and a beta of 0.38. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.18 and a current ratio of 1.37. The firm’s 50-day moving average is $66.75. Gilead Sciences has a 52 week low of $56.56 and a 52 week high of $78.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 29th. Investors of record on Tuesday, June 15th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Monday, June 14th. Gilead Sciences’s payout ratio is presently 40.06%.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, and Atripla products for the treatment of human immunodeficiency virus (HIV) infection; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.
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