Gilead Sciences, Inc. (NASDAQ:GILD) announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.14, Bloomberg Earnings reports. The firm had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.40 billion. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The business’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.75 earnings per share.
Shares of Gilead Sciences (GILD) traded up $0.75 during midday trading on Friday, reaching $73.77. 7,698,200 shares of the company traded hands, compared to its average volume of 9,244,684. Gilead Sciences has a twelve month low of $63.76 and a twelve month high of $86.27. The company has a market cap of $96,363.46, a PE ratio of 7.70, a price-to-earnings-growth ratio of -1.24 and a beta of 1.13. The company has a debt-to-equity ratio of 1.10, a quick ratio of 4.74 and a current ratio of 3.68.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.82%. Gilead Sciences’s dividend payout ratio (DPR) is presently 23.69%.
GILD has been the subject of several recent research reports. BMO Capital Markets reiterated a “hold” rating and issued a $82.00 price target on shares of Gilead Sciences in a research note on Friday, October 20th. J P Morgan Chase & Co set a $85.00 price target on Gilead Sciences and gave the company a “buy” rating in a research note on Wednesday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Monday, August 28th. Vetr upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $89.27 price objective for the company in a research report on Wednesday, September 6th. Finally, Morgan Stanley restated an “equal weight” rating and set a $83.00 price objective (up from $77.00) on shares of Gilead Sciences in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.92.
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In related news, CFO Robin L. Washington sold 51,820 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $85.00, for a total value of $4,404,700.00. Following the transaction, the chief financial officer now owns 43,352 shares of the company’s stock, valued at approximately $3,684,920. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $79.00, for a total transaction of $3,950,000.00. Following the completion of the transaction, the executive vice president now directly owns 113,237 shares in the company, valued at approximately $8,945,723. The disclosure for this sale can be found here. In the last ninety days, insiders sold 446,819 shares of company stock worth $36,269,486. 1.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of GILD. Rowland & Co. Investment Counsel ADV purchased a new stake in Gilead Sciences in the 2nd quarter valued at about $153,000. Stonebridge Capital Advisors LLC increased its stake in Gilead Sciences by 260.6% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 73,943 shares of the biopharmaceutical company’s stock valued at $5,234,000 after buying an additional 53,440 shares during the last quarter. Scotia Capital Inc. increased its stake in Gilead Sciences by 9.8% in the 2nd quarter. Scotia Capital Inc. now owns 146,411 shares of the biopharmaceutical company’s stock valued at $10,362,000 after buying an additional 13,078 shares during the last quarter. Linscomb & Williams Inc. increased its stake in Gilead Sciences by 10.1% in the 2nd quarter. Linscomb & Williams Inc. now owns 5,806 shares of the biopharmaceutical company’s stock valued at $411,000 after buying an additional 531 shares during the last quarter. Finally, Chiron Investment Management LLC increased its stake in Gilead Sciences by 42.9% in the 2nd quarter. Chiron Investment Management LLC now owns 266,500 shares of the biopharmaceutical company’s stock valued at $18,863,000 after buying an additional 80,000 shares during the last quarter. Hedge funds and other institutional investors own 74.38% of the company’s stock.
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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