Analysts Anticipate Gilead Sciences, Inc. (GILD) Will Post Quarterly Sales of $6.37 Billion

Wall Street brokerages predict that Gilead Sciences, Inc. (NASDAQ:GILD) will announce sales of $6.37 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Gilead Sciences’ earnings. The lowest sales estimate is $6.22 billion and the highest is $6.48 billion. Gilead Sciences reported sales of $7.78 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.1%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, July 26th.

On average, analysts expect that Gilead Sciences will report full year sales of $6.37 billion for the current financial year, with estimates ranging from $23.03 billion to $25.29 billion. For the next financial year, analysts anticipate that the firm will report sales of $22.03 billion per share, with estimates ranging from $20.41 billion to $23.94 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Gilead Sciences.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.02. The business had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.66 billion. Gilead Sciences had a net margin of 43.42% and a return on equity of 76.64%.

A number of research firms recently issued reports on GILD. BMO Capital Markets reissued a “hold” rating and set a $76.00 target price (up from $75.00) on shares of Gilead Sciences in a research note on Wednesday, May 3rd. Cowen and Company reissued an “outperform” rating and set a $90.00 target price on shares of Gilead Sciences in a research note on Wednesday, July 5th. J P Morgan Chase & Co reissued an “overweight” rating and set a $82.00 target price on shares of Gilead Sciences in a research note on Thursday, April 6th. Morgan Stanley reissued an “equal weight” rating on shares of Gilead Sciences in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $79.00 target price on shares of Gilead Sciences in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Gilead Sciences presently has a consensus rating of “Buy” and a consensus price target of $80.24.

Gilead Sciences (GILD) traded up 0.625% on Friday, hitting $71.595. 4,531,598 shares of the stock traded hands. The stock has a market capitalization of $93.56 billion, a P/E ratio of 7.567 and a beta of 1.20. The company’s 50 day moving average price is $66.03 and its 200-day moving average price is $68.95. Gilead Sciences has a 12-month low of $63.76 and a 12-month high of $88.85.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Friday, June 16th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Wednesday, June 14th. Gilead Sciences’s payout ratio is currently 21.99%.

In related news, Director John Francis Cogan sold 9,943 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $67.25, for a total value of $668,666.75. Following the transaction, the director now owns 47,562 shares in the company, valued at $3,198,544.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total value of $5,206,643.00. Following the completion of the transaction, the insider now owns 3,199,969 shares in the company, valued at approximately $227,197,799. The disclosure for this sale can be found here. Insiders sold 88,276 shares of company stock worth $6,230,610 in the last 90 days. 1.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GILD. Norges Bank bought a new position in shares of Gilead Sciences during the fourth quarter worth approximately $997,048,000. Parnassus Investments CA boosted its position in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Gilead Sciences by 170.9% in the fourth quarter. Renaissance Technologies LLC now owns 5,274,948 shares of the biopharmaceutical company’s stock worth $377,739,000 after buying an additional 3,327,900 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Gilead Sciences by 516.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,410,521 shares of the biopharmaceutical company’s stock worth $172,719,000 after buying an additional 2,019,344 shares in the last quarter. Institutional investors own 74.03% 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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