Svb Leerink Comments on Gilead Sciences, Inc.’s Q2 2019 Earnings (GILD)
Gilead Sciences, Inc. (NASDAQ:GILD) – Stock analysts at Svb Leerink dropped their Q2 2019 earnings per share (EPS) estimates for Gilead Sciences in a research note issued on Tuesday, May 21st. Svb Leerink analyst G. Porges now anticipates that the biopharmaceutical company will earn $1.72 per share for the quarter, down from their previous forecast of $1.73. Svb Leerink also issued estimates for Gilead Sciences’ Q3 2019 earnings at $1.72 EPS, Q4 2019 earnings at $1.67 EPS, FY2019 earnings at $6.79 EPS, FY2020 earnings at $6.87 EPS, FY2021 earnings at $7.06 EPS, FY2022 earnings at $7.33 EPS and FY2023 earnings at $7.70 EPS.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.23. The firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Gilead Sciences had a return on equity of 37.98% and a net margin of 26.40%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS.
Gilead Sciences stock opened at $66.50 on Thursday. The company has a market cap of $84.81 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.14. Gilead Sciences has a 52-week low of $60.32 and a 52-week high of $79.61. The company has a current ratio of 3.62, a quick ratio of 3.53 and a debt-to-equity ratio of 1.09.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Thursday, June 13th. Gilead Sciences’s payout ratio is currently 40.98%.
In related news, Director Richard James Whitley sold 9,534 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $65.48, for a total value of $624,286.32. Following the completion of the sale, the director now directly owns 34,669 shares of the company’s stock, valued at approximately $2,270,126.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Francis Cogan sold 2,700 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $67.23, for a total value of $181,521.00. Following the completion of the sale, the director now directly owns 57,560 shares of the company’s stock, valued at $3,869,758.80. The disclosure for this sale can be found here. Insiders sold a total of 28,602 shares of company stock valued at $1,863,445 over the last three months. 0.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GILD. Oregon Public Employees Retirement Fund raised its position in Gilead Sciences by 5,733.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,988,297 shares of the biopharmaceutical company’s stock valued at $463,000 after buying an additional 28,491,386 shares during the last quarter. Norges Bank bought a new position in Gilead Sciences in the 4th quarter valued at $798,882,000. Renaissance Technologies LLC grew its stake in Gilead Sciences by 50.7% in the 1st quarter. Renaissance Technologies LLC now owns 8,120,248 shares of the biopharmaceutical company’s stock valued at $527,897,000 after purchasing an additional 2,730,700 shares during the period. Parnassus Investments CA grew its stake in Gilead Sciences by 21.2% in the 1st quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock valued at $849,976,000 after purchasing an additional 2,288,767 shares during the period. Finally, BlackRock Inc. grew its stake in Gilead Sciences by 2.2% in the 4th quarter. BlackRock Inc. now owns 104,186,077 shares of the biopharmaceutical company’s stock valued at $6,516,839,000 after purchasing an additional 2,195,948 shares during the period. 78.68% of the stock is owned by institutional investors and hedge funds.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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