Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) – Analysts at Jefferies Financial Group raised their FY2022 earnings estimates for Gilead Sciences in a note issued to investors on Tuesday, August 2nd. Jefferies Financial Group analyst M. Yee now forecasts that the biopharmaceutical company will earn $6.67 per share for the year, up from their prior forecast of $6.59. The consensus estimate for Gilead Sciences’ current full-year earnings is $6.58 per share. Jefferies Financial Group also issued estimates for Gilead Sciences’ Q4 2023 earnings at $1.55 EPS, FY2023 earnings at $6.34 EPS and FY2024 earnings at $6.82 EPS.
Several other equities analysts also recently weighed in on GILD. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, July 12th. They issued a “neutral” rating and a $70.00 price target on the stock. Piper Sandler cut their price target on shares of Gilead Sciences from $73.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, May 16th. Royal Bank of Canada raised their price objective on shares of Gilead Sciences from $76.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 12th. BMO Capital Markets assumed coverage on shares of Gilead Sciences in a research note on Tuesday, June 7th. They set a “hold” rating and a $63.00 price objective on the stock. Finally, TheStreet cut shares of Gilead Sciences from a “b-” rating to a “c+” rating in a research note on Friday, July 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.07.
Gilead Sciences Stock Performance
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Gilead Sciences by 324.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after acquiring an additional 13,764,169 shares in the last quarter. Norges Bank bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $950,911,000. Capital World Investors grew its holdings in shares of Gilead Sciences by 16.0% in the 1st quarter. Capital World Investors now owns 49,501,852 shares of the biopharmaceutical company’s stock valued at $2,942,905,000 after acquiring an additional 6,820,228 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Gilead Sciences by 70.6% in the 1st quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after acquiring an additional 6,410,047 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Gilead Sciences by 103.4% in the 1st quarter. First Trust Advisors LP now owns 6,126,685 shares of the biopharmaceutical company’s stock valued at $364,232,000 after acquiring an additional 3,114,535 shares in the last quarter. 80.16% of the stock is currently owned by institutional investors.
Gilead Sciences Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.92 dividend on an annualized basis and a yield of 4.78%. Gilead Sciences’s dividend payout ratio (DPR) is presently 89.02%.
Gilead Sciences Company Profile
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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