Jefferies Financial Group Research Analysts Reduce Earnings Estimates for Gilead Sciences, Inc. (NASDAQ:GILD)

Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) – Research analysts at Jefferies Financial Group lowered their Q2 2022 earnings estimates for Gilead Sciences in a report released on Sunday, April 17th. Jefferies Financial Group analyst M. Yee now forecasts that the biopharmaceutical company will post earnings per share of $1.59 for the quarter, down from their previous estimate of $1.65. Jefferies Financial Group also issued estimates for Gilead Sciences’ Q3 2022 earnings at $1.53 EPS, Q4 2022 earnings at $1.43 EPS, FY2022 earnings at $6.42 EPS and FY2024 earnings at $6.96 EPS.

Gilead Sciences (NASDAQ:GILD – Get Rating) last announced its quarterly earnings data on Tuesday, February 1st. The biopharmaceutical company reported $0.69 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.84). Gilead Sciences had a return on equity of 45.27% and a net margin of 22.80%. The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same period last year, the business earned $2.19 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year.

GILD has been the subject of several other reports. Mizuho reduced their target price on Gilead Sciences from $81.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, February 8th. BMO Capital Markets began coverage on Gilead Sciences in a report on Tuesday, March 8th. They set a “hold” rating and a $65.00 price objective for the company. Royal Bank of Canada increased their target price on Gilead Sciences from $76.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, April 12th. Oppenheimer decreased their price target on shares of Gilead Sciences from $100.00 to $90.00 in a research note on Thursday, February 3rd. Finally, Piper Sandler upped their price objective on shares of Gilead Sciences from $71.00 to $72.00 in a report on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.31.

GILD opened at $61.58 on Tuesday. The company has a fifty day moving average price of $60.44 and a two-hundred day moving average price of $66.00. Gilead Sciences has a 1-year low of $57.19 and a 1-year high of $74.12. The company has a market cap of $77.21 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.44 and a beta of 0.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 1.24.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Chiron Capital Management LLC raised its stake in Gilead Sciences by 11.5% in the 1st quarter. Chiron Capital Management LLC now owns 97,727 shares of the biopharmaceutical company’s stock valued at $5,810,000 after acquiring an additional 10,053 shares during the period. LCM Capital Management Inc raised its position in shares of Gilead Sciences by 4.3% in the first quarter. LCM Capital Management Inc now owns 7,964 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 330 shares during the period. Keudell Morrison Wealth Management lifted its stake in shares of Gilead Sciences by 25.8% during the 1st quarter. Keudell Morrison Wealth Management now owns 11,867 shares of the biopharmaceutical company’s stock valued at $705,000 after buying an additional 2,435 shares in the last quarter. Donald L. Hagan LLC boosted its holdings in Gilead Sciences by 5.9% in the 1st quarter. Donald L. Hagan LLC now owns 18,502 shares of the biopharmaceutical company’s stock worth $1,100,000 after buying an additional 1,029 shares during the period. Finally, 44 Wealth Management LLC grew its stake in Gilead Sciences by 20.9% in the 1st quarter. 44 Wealth Management LLC now owns 4,862 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 839 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Brett A. Pletcher sold 3,634 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $58.24, for a total transaction of $211,644.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brett A. Pletcher sold 14,061 shares of Gilead Sciences stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $68.54, for a total transaction of $963,740.94. The disclosure for this sale can be found here. Insiders sold a total of 19,386 shares of company stock worth $1,283,423 in the last 90 days. Company insiders own 0.16% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Tuesday, March 15th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.74%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.71. Gilead Sciences’s dividend payout ratio (DPR) is currently 59.23%.

Gilead Sciences Company Profile (Get Rating)

Gilead Sciences, Inc, a 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 HIV/AIDS; 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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