Gilead Sciences Inc (Gild-O) : Average Score

GILEAD SCIENCES INC (GILD-O)
DETAILED STOCK REPORT
Pharma. & Med. Research / Pharmaceuticals / Pharmaceuticals
Report Date: April 20, 2015

Last Close
Avg Daily Vol
52-Week High
Trailing PE
Annual Div
ROE
LTG Forecast
1-Mo Return
101.38 (USD)
11.0M
116.83
13.7
--
90.3%
13.3%
0.9%
April 17, 2015

NASDAQ Exchange
Market Cap
52-Week Low
Forward PE
Dividend Yield
Annual Rev
Inst Own
3-Mo Return
150.4B
69.40
10.5
--
24.9B
86.3%
0.7%
AVERAGE SCORE
Score Averages
POSITIVE OUTLOOK: GILD's current score of 8

places it among the top quartile of stocks scored.
Pharmaceuticals Group: 4.4

Pharma. & Med. Research Sector: 3.9
Average Score Trend (4-Week Moving Avg)

Positive
Neutral
Negative
APR-2012
APR-2013
APR-2014
APR-2015
HIGHLIGHTS
Peers
Mega Market Cap: 6.6

S&P 500 Index: 6.4
-6M
-3M
-1M
-1W
ACT
10
10
Current
10
AMGN
GILD
PFE
MRK
1Y Trend
THOMSON REUTERS I/B/E/S MEAN
- The score for GILEAD SCIENCES INC has been on a positive

trend from 6 to 8 over the past 10 weeks.
- The recent change in the Average Score was primarily due to
an improvement in the Earnings and Price Momentum
component scores.
Buy
Mean recommendation from all analysts covering

the company on a standardized 5-point scale.
25 Analysts
Sell
Reduce
Hold
Buy
Strong
Buy
PRICE AND VOLUME CHARTS

1-Year Return: 44.8%
5-Year Return: 343.7%
BUSINESS SUMMARY
Gilead Sciences, Inc. (Gilead) is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in
areas of unmet medical need. The Company's primary areas of focus include human immunodeficiency virus (HIV), liver diseases such as chronic
hepatitis B virus (HBV) infection and chronic hepatitis C virus (HCV) infection, oncology or inflammation and serious cardiovascular and respiratory
conditions. The Company has operations in North America, Europe and Asia Pacific. The Company's products include Atripla, Truvada, Viread,
Complera/Eviplera, Emtriva, Hepsera, Letairis, Ranexa, Lexiscan/Rapiscan, AmBisome, Vistide, Macugen, Cayston and Tamiflu. Sales of the
Company's antiviral products, which include products in the Company's HIV and liver diseases areas described above, were $9.34 billion in 2013. This
represented 83% of the Company's total revenues in 2013.
Page 1 of 12
2015 Thomson Reuters. All rights reserved.
INDICATOR COMPONENTS
The AVERAGE SCORE combines the quantitative analysis of six widely-used investment decision making tools: Earnings,
Fundamental, Relative Valuation, Risk, Price Momentum and Insider Trading. A simple average of the underlying component ratings is
normally distributed to rank stocks on a 1-10 scale (10 being awarded to the most favorable). These factors may be evaluated
differently using alternative methodologies and the importance of individual factors varies across industries, market capitalization and
investment styles. Additional criteria should always be used to evaluate a stock.
Earnings
Fundamental
Relative Valuation
Risk
Price Momentum
Insider Trading
OPTIMIZED SCORE
Historically, companies with an optimized score
of 5 have tended to perform in-line with the
market over the following 12-month period.
As an alternative approach to equally weighting each of the six factors, independent

research firm, Verus Analytics, conducted a backtest to empirically determine the
optimal factor blend. Results and weighting vary across four different market
capitalization categories. For large cap stocks, price momentum and insider trading
historically provided the most explanatory power among the six factors and are
weighted heavily in the current optimized score. Among the small cap universe, the
earnings and fundamental factors joined with insider trading and price momentum to
explain returns.
PEER ANALYSIS
Currency in USD
PRICE MOMENTUM
Average
Score Ticker
Price
(04/17/15)
1-Mo
Return
3-Mo
Return
VALUATION
FUNDAMENTAL
ANALYSTS
1-Yr
Return
Market
Cap
Trailing
PE
Forward
PE
Dividend
Yield
Net
Margin
LTG I/B/E/S
Forecast Mean
# of
Analysts
JNJ
99.58
-0.3%
-4.3%
0.6%
276.9B
17.8
16.1
2.8%
13.8%
5.1% Buy
19
PFE
35.04
2.5%
6.8%
15.8%
215.2B
24.7
16.8
3.2%
9.4%
3.1% Buy
20
MRK
56.88
0.7%
-9.8%
0.7%
160.9B
13.9
16.9
3.2%
69.8%
5.1% Buy
19
GILD
101.38
0.9%
0.7%
44.8%
150.4B
13.7
10.5
--
47.7%
13.3% Buy
25
AMGN
163.58
0.3%
3.3%
41.7%
124.0B
24.4
17.6
1.9%
24.3%
11.1% Buy
22
10
ACT
297.05
-3.4%
10.6%
50.5%
120.3B
--
16.9
--
-18.1%
17.7% Buy
22
BMY
65.35
-3.4%
4.9%
32.1%
108.9B
54.5
38.7
2.3%
0.3%
16.2% Buy
20
ABBV
62.29
4.3%
-3.5%
28.3%
99.2B
57.2
14.8
3.3%
-14.9%
-- Buy
14
BIIB
419.44
-1.6%
18.9%
44.4%
98.4B
33.9
24.7
--
33.5%
17.6% Buy
22
CELG
113.47
-6.2%
-6.8%
60.4%
90.8B
47.3
23.7
--
29.4%
25.5% Buy
26
NR
STDY
8.62
--
--
--
--
--
--
--
--
-- Buy
7.1
Average
129.33
-0.6%
2.1%
31.9%
144.5B
31.9
19.7
2.8%
19.5%
12.7% Buy
19.3
PEER COMPANIES
STDY
JNJ
PFE
MRK
AMGN
STEADYMED LTD
JOHNSON & JOHNSON
PFIZER INC
MERCK & CO. INC
AMGEN INC
Page 2 of 12
ACT
BMY
ABBV
BIIB
CELG
ACTAVIS PLC
BRISTOL-MYERS SQUIBB
ABBVIE INC
BIOGEN INC
CELGENE CORPORATION
EARNINGS
Currency in USD
Earnings Score Averages
POSITIVE OUTLOOK: Strong earnings with

recent analyst upgrades or a history of
surpassing consensus estimates.

Earnings Score Trend (4-Week Moving Avg)
Peers
Positive
Neutral
Negative
APR-2012
APR-2013
APR-2014
APR-2015

S&P 500 Index: 6.4
-6M
-3M
-1M
-1W
ACT
10
10
Current
9
PFE
10
10
AMGN
10
GILD
10
MRK
10
1Y Trend
EARNINGS INDICATORS
Earnings Surprises
Estimate Revisions
Recommendation Changes
(33.3% weight)
(33.3% weight)
(33.3% weight)
PFE
ACT
AMGN
MRK
GILD
AMGN
MRK
GILD
PFE
ACT
PFE
MRK
AMGN
GILD
ACT
Last 4 Quarters
# Positive Surprises (> 2%)
# Negative Surprises (< -2%)
# In-Line (within 2%)
Avg Surprise
Last 4 Weeks
3
1
0
21.8%
# Up Revisions
# Down Revisions
Avg Up Revisions
Avg Down Revisions
HIGHLIGHTS
- GILD's Earnings Rating improved significantly over the past two weeks
from 6 to 8. The current rating is considerably more bullish than the
Pharmaceuticals Industry average of 5.5. GILD scores a bullish 7 or
greater for two of three component ratings: Earnings Surprise (7) and
Estimate Revision (10).
- GILD's current quarter consensus estimate has remained relatively
unchanged over the past 90 days at 2.31. Estimates within its Industry
have moved an average of -1.0% during the same time period.
- During the past four weeks, analysts covering GILD have made 7
upward and 2 downward EPS estimate revisions for the current
quarter.
Page 3 of 12
Last 120 Days

7
2
28.0%
-8.0%
# Broker Upgrades
# Broker Downgrades
1
3
PRICE TARGET
The chart indicates where analysts predict the stock price will be within
the next 12 months, as compared to the current price.
12-Month Price Target
180
160
HIGH
140
120
120.00
High
159.00
Low
101.38
MEAN
100
80.00
Mean
Target vs. Current

# of Analysts
LOW
Current Price
Price Target
84.00
18.4%
23
EARNINGS PER SHARE

Actuals
Estimates
6.000
Earnings per share (EPS) is calculated

by dividing a company's earnings by the
number of shares outstanding. Analysts
tend to interpret a pattern of increasing
earnings as a sign of strength and flat
or falling earnings as a sign of
weakness.
5.000
Quarterly
03-15
06-15
4.000
Mean
2.309
2.381
High
2.940
3.100
Low
1.780
1.960
21
21
3.000
HIGH
2.430
2.360
1.840
1.000
The charts provide a comparison

between a company's actual and
estimated EPS, including the high and
low forecasts.
MEAN
LOW
1.480
2.000
03-14
06-14
09-14
Actuals
12-14
03-15
# of Analysts
06-15
Estimates
15.00
HIGH
Annual
2015
2016
MEAN
Mean
9.644
10.410
LOW
High
12.480
14.070
Low
8.210
8.309
25
25
12.00
8.09
9.00
6.00
3.00
0.00
2.04
# of Analysts
2013
2014
2015
MEAN ESTIMATE TREND
Current
30 Days Ago
90 Days Ago
% Change (90 Days)
2016
ANALYST RECOMMENDATIONS
Q
03-15
Q
06-15
Y
2015
Y
2016
2.309
2.259
2.259
2.2%
2.381
9.644
10.410
119.00
2.355
9.553
10.330
119.00
2.355
9.549
10.410
123.00
1.1%
1.0%
0.0%
-3.3%
Next Expected Report Date: 04/30/15
Thomson Reuters I/B/E/S Mean: Buy (25 Analysts)
Price
Target
Strong Buy
Buy
13
Hold
Reduce
Sell
EARNINGS SURPRISES
Comparing a company's actual earnings to the mean expectation of
analysts results in a difference referred to as a 'positive' or 'negative'
surprise. Research has shown that when a company reports a
surprise, it is often followed by more of the same surprise type.
Surprise Summary (Last 12 Quarters)
Surprise Type
Positive Quarters (> 2%)
Negative Quarters (< -2%)
In-Line Quarters (within 2%)
Amount
Percent
8
3
1
66.7%
25.0%
8.3%
Surprise Detail (Last 6 Periods)

Surprise
Type
Announce
Date
Period End
Date
Actual
EPS
Mean
EPS
Surprise
(%)
POSITIVE
NEGATIVE
POSITIVE
POSITIVE
POSITIVE
POSITIVE
02/03/15
10/28/14
07/23/14
04/22/14
02/04/14
10/29/13
12/31/14
09/30/14
06/30/14
03/31/14
12/31/13
09/30/13
2.430
1.840
2.360
1.480
0.550
0.520
2.223
1.919
1.790
0.914
0.503
0.482
9.3%
-4.1%
31.8%
61.9%
9.3%
7.9%
ANNUAL REVENUE
A pattern of increasing sales in
conjunction with a rising EPS may
influence a buy recommendation, while
flat or falling sales and faltering
earnings may explain a sell
recommendation. A rising EPS with flat
or falling sales may result from
increased cost efficiency and margins,
rather than market expansion. This
chart shows the sales forecast trend of
all analysts and the highest and lowest
projections for the current and next
fiscal year.
Page 4 of 12
Actuals
Estimates
35B
HIGH
2015
2016
30B
MEAN
Mean
28.5B
29.6B
LOW
High
33.5B
34.5B
Low
26.0B
26.1B
Forecasted Growth
14.3%
18.7%
23
23
24.9B
25B
20B
15B
10B
11.2B
2013
# of Analysts
2014
2015
2016
FUNDAMENTAL
Fundamental Score Averages
POSITIVE OUTLOOK: Strong fundamentals

such as high profit margins, low debt levels, or
growing dividends.

Fundamental Score Trend
Peers
GILD
Positive

S&P 500 Index: 6.6
Q2
2014
Q3
2014
Q4
2014
Q1
2015
10
10
10
NR
10
Current
AMGN
NR
Neutral
PFE
NR
Negative
MRK
NR
ACT
NR
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2012
2013
2014
3Y Trend
FUNDAMENTAL INDICATORS
Profitability
Debt
Earnings Quality
Dividend
(25% weight)
(25% weight)
(25% weight)
(25% weight)
GILD
AMGN
MRK
GILD
ACT
GILD
PFE
PFE
AMGN
MRK
AMGN
PFE
MRK
ACT
ACT
AMGN
PFE
MRK
ACT
GILD
Revenue Growth
For year over year
ending 12/14
Gross Margin
For trailing 4 qtrs
ending 12/14
Return on Equity
For trailing 4 qtrs
ending 12/14
Net Margin
For trailing 4 qtrs
ending 12/14
122.2% Current Ratio

For year over year
ending 12/14
85.5% Debt-to-Capital
For trailing 4 qtrs
ending 12/14
90.3% Interest Funding
For trailing 4 qtrs
ending 12/14
47.7% Interest Coverage
For trailing 4 qtrs
ending 12/14
3.1 Days Sales in Inv.

For period ending
12/14
43.0% Days Sales in Rec.
For period ending
12/14
3.2%
33.4
205.5
50.0
Div. Growth Rate

For year over year
ending -Dividend Funding
For trailing 4 qtrs
ending 12/14
Dividend Coverage
For trailing 4 qtrs
ending -Current Div. Yield
For trailing 4 qtrs
ending 04/15
--
0.0%
HIGHLIGHTS
- GILD currently has a Fundamental Rating of 10, which is significantly
more bullish than the Pharmaceuticals Industry average of 4.8.
- The company's gross margin has been higher than its Industry
average for each of the past five years.
- The company does not currently pay a dividend. Of the 118 firms
within the Pharmaceuticals Industry, it is among the 103 companies
without a dividend.
Page 5 of 12
- The company's days sales in inventory has been higher than its
Industry average for each of the past five years.
- The company's debt-to-capital has been higher than its Industry
average for each of the past five years.
--
--
RELATIVE VALUATION
Relative Valuation Score Averages
POSITIVE OUTLOOK: Multiples significantly

below the market or the stock's historic norms.

Relative Valuation Score Trend (4-Week Moving Avg)

Positive
Neutral
Negative
APR-2012
APR-2013
APR-2014
APR-2015
Peers

S&P 500 Index: 5.1
-6M
-3M
-1M
-1W
GILD
10
10
10
Current
10
ACT
AMGN
MRK
PFE
1Y Trend
RELATIVE VALUATION INDICATORS

Forward PEG
Trailing PE
Forward PE
(50% weight)
(25% weight)
(25% weight)
ACT
GILD
GILD
MRK
GILD
AMGN
AMGN
PFE
ACT
MRK
PFE
AMGN
MRK
PFE
ACT
Forward PEG
0.8 Trailing PE
13.7
Forward PE
10.5
5-Yr Average
0.8 5-Yr Average
20.5
5-Yr Average
14.7
Rel. to 5-Yr Avg.
5% Premium Rel. to 5-Yr Avg.
S&P 500 Index

Rel. To S&P 500
2.1 S&P 500 Index

63% Discount Rel. To S&P 500
33% Discount Rel. to 5-Yr Avg.

25.7
S&P 500 Index
47% Discount Rel. To S&P 500
28% Discount
22.8
54% Discount
HIGHLIGHTS
- Compared to the Pharmaceuticals Industry, GILD is currently trading
at a significant discount based on Trailing P/E, Forward P/E, and
Forward PEG.
- GILD's current Trailing P/E of 13.7 represents a 71% Discount to its
Pharmaceuticals Industry average.
- GILD currently has a Valuation Rating of 10 which is significantly
above the S&P 500 COMPOSITE index average rating of 5.1.
Page 6 of 12
- GILD's Forward PEG of 0.8 represents a 5% Premium to its 5-year

average of 0.8.
- Based on Forward P/E, GILD currently trades at a 69% Discount to its
Pharmaceuticals Industry peers. On average, the company has
traded at a 51% Discount over the past five years.
PRICE TO SALES
TRAILING PE
The most recent week's close price divided by the revenue per share.
Price to Sales:
5-Year Average:
S&P 500 Index Average:
Pharmaceuticals Industry Average:
12
11
10
9
8
7
6
5
4
3
2
6.0
6.2
3.0
10.6
2011
2012
2013
2014
FORWARD PE
2011
2012
2013
2014
FORWARD PEG
Forward PE:
5-Year Average:
2011
The Forward P/E divided by the five-year forecasted growth rate.

10.5
14.7
22.8
33.6
Forward PEG:
5-Year Average:
2.2
2.0
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2
5-Yr Average
2010
13.7
20.5
25.7
46.7
5-Yr Average
2010
The most recent week's close price divided by the sum of the four
upcoming quarterly consensus estimates.
36
33
30
27
24
21
18
15
12
9
6
Trailing PE:
5-Year Average:
48
44
40
36
32
28
24
20
16
12
8
5-Yr Average
2010
The most recent week's close price divided by the sum of the four most
recently reported quarterly earnings.
2012
Page 7 of 12
2013
2014
5-Yr Average
2010
2011
2012
2013
2014
0.8
0.8
2.1
2.1
RISK
Risk Score Averages
NEUTRAL OUTLOOK: Moderate risk (medium

volatility).

Risk Score Trend (4-Week Moving Avg)

Positive
Neutral
Negative
APR-2012
APR-2013
APR-2014
APR-2015
Peers

S&P 500 Index: 8.4
-6M
-3M
-1M
-1W
PFE
10
10
10
10
Current
10
ACT
MRK
10
AMGN
GILD
1Y Trend
RISK INDICATORS
Magnitude Of Returns
Volatility
Beta (1-year)
Correlation
(25% weight)
(25% weight)
(25% weight)
(25% weight)
ACT
MRK
PFE
AMGN
GILD
ACT
MRK
PFE
AMGN
PFE
AMGN
ACT
PFE
MRK
GILD
GILD
MRK
ACT
AMGN
GILD
Daily Returns (Last 90 Days)

Best
3.4%
Worst
-8.2%
Monthly Returns (Last 60 Months)
Best
19.8%
Worst
-14.4%
Standard Deviation
Last 90 Days
1.69
Last 60 Months
8.02
Intra-Day Swing (Last 90 Days)
Last 90 Days Avg
2.1%
Last 90 Days Largest
4.5%
HIGHLIGHTS
- GILD currently has a Risk Rating of 6, which is significantly
below the S&P 500 COMPOSITE index average rating of 8.4.
- On days when the market is up, GILD tends to outperform the
S&P 500 COMPOSITE index. On days when the market is
down, the stock generally performs in-line with the S&P 500
COMPOSITE index.
- In the short term, GILD has shown high correlation (>=0.4) with
the S&P 500 COMPOSITE index. The stock has, however,
shown average correlation (>=0.2 and <0.4) with the market in
the long term.
- Over the past 90 days, GILD shares have been more volatile
than the overall market, as the stock's daily price fluctuations
have exceeded that of 76% of S&P 500 COMPOSITE index
firms.
Page 8 of 12
Beta vs. S&P 500

Positive Days Only
Negative Days Only
Beta vs. Group
Positive Days Only
Negative Days Only
1.13
1.42
0.90
0.83
0.72
0.54
Correlation vs. S&P 500

Last 90 Days
Last 60 Months
Correlation vs. Group
Last 90 Days
Last 60 Months
53%
35%
49%
34%
RISK ANALYSIS
Last 90 Days
Worst
#
# Largest
Daily Days Days Intra-Day
Return
Up Down
Swing
Last 60 Months
Best
Worst
Monthly Monthly
Return
Return
Peers
Best
Daily
Return
GILD
3.4%
-8.2%
35
28
4.5%
19.8%
-14.4%
ACT
3.2%
-2.8%
36
27
4.2%
16.9%
-8.1%
AMGN
5.7%
-3.2%
36
25
4.1%
15.5%
-11.0%
MRK
2.1%
-3.2%
31
32
3.2%
11.1%
-8.0%
PFE
3.3%
-2.0%
30
32
5.1%
8.9%
-7.9%
S&P 500
1.5%
-1.7%
30
33
2.2%
10.8%
-8.2%
PRICE MOMENTUM
Currency in USD
Price Momentum Score Averages
NEUTRAL OUTLOOK: Performance relatively inline with the market.

Price Momentum Score Trend (4-Week Moving Avg)

Positive
Neutral
Negative
APR-2012
APR-2013
APR-2014
APR-2015
Peers

S&P 500 Index: 5.7
-6M
-3M
-1M
-1W
ACT
10
10
Current
10
AMGN
PFE
GILD
MRK
1Y Trend
PRICE MOMENTUM INDICATORS

Relative Strength
Seasonality
(70% weight)
(30% weight)
ACT
PFE
AMGN
ACT
GILD
MRK
GILD
AMGN
MRK
PFE
Relative Strength Indicator (scale 1-100, 100 is best)

GILD
Industry Avg
Last 1 Month
51
53
Last 3 Months
51
53
Last 6 Months
52
53
Average Monthly Return (Last 10 Years)

APR
MAY
JUN
Company Avg
0.3%
1.5%
-0.6%
Industry Avg
1.7%
1.3%
0.3%
Industry Rank
89 of 116
31 of 116
22 of 116
PRICE PERFORMANCE
Daily close prices are used to calculate the
performance of the stock as compared to a
relevant index over five time periods.
1-Week
1-Month
3-Month
YTD
GILD
NASDAQ 100
-0.4%
-1.6%
0.9%
0.7%
5.1%
7.6%
2.7%
Page 9 of 12
NASDAQ 100
101.38
4352
52-Week High
116.83
4483
52-Week Low
69.40
3533
- On 04/17/15, GILD closed at 101.38, 13.2% below its 52-week

high and 46.1% above its 52-week low.
- GILD shares are currently trading 0.1% above their 50-day
moving average of 101.26, and 0.0% below their 200-day
moving average of 101.41.
- The NASDAQ 100 is currently 2.9% below its 52-week high
and 23.2% above its 52-week low.
-0.5%
1-Year
GILD
Close Price (04/17/15)
44.8%
23.1%
INSIDER TRADING
Currency in USD
Insider Trading Score Averages
NEGATIVE OUTLOOK: Recent or longer-term

trend of selling by company insiders.

Insider Score Trend (4-Week Moving Avg)
Peers
Positive
Neutral
Negative
APR-2012
APR-2013
APR-2014
APR-2015

S&P 500 Index: 3.8
-6M
-3M
-1M
-1W
ACT
Current
8
AMGN
MRK
NR
PFE
GILD
1Y Trend
INSIDER TRADING INDICATORS

Short-Term Insider
(70% weight)
Long-Term Insider
(30% weight)
ACT
AMGN
MRK
PFE
GILD
AMGN
GILD
PFE
ACT
MRK
Most Recent Buys and Sells (Last 90 days)

Name
Role
Tran Date
Tran Type
Bischofberger, Norbert W
O
04/15/15
S
Alton, Gregg H
O
04/08/15
S
Carter, Paul Rutherford
O
04/08/15
S
HIGHLIGHTS
MONTHLY BUYS AND SELLS
- GILD currently has an Insider Rating of 1, which is significantly more

bearish than the Pharmaceuticals Industry average of 4.51.
- Since the beginning of the current quarter, sales by GILEAD
SCIENCES INC executives have totaled $7,868,643. Over the past
five years, the average sell total for Q2 has been $34,947,626.
60
TOP INSTITUTIONAL HOLDERS

Inst.
Type
Inv Mgmt
Inv Mgmt
Inv Mgmt
Inv Mgmt
Inv Mgmt
Excludes
derivative
and option
exercises
0
30
SELLS
M J
J
TOP EXECUTIVE HOLDERS

%
O/S
6.6%
6.1%
5.5%
4.4%
4.3%
Shares
Held
97.9M
91.0M
81.6M
64.7M
64.1M
Reported
Date
12/31/14
12/31/14
12/31/14
12/31/14
12/31/14
Updated daily as of 04/19/15
Page 10 of 12
$ Market Value - Millions
BUYS
30
60
Institution
Capital Research Global
Fidelity Management
The Vanguard Group Inc
State Street Global
BlackRock Institutional
Insider Summary (Last 6 Months)

Total Shares Acquired
2,176,457
Total Shares Disposed
2,513,752
Net Shares
-337,295
Sector Average
474,235
Shares
70,000
5,000
1,000
Insider Name
Martin, John C
Milligan, John F
Davignon, Etienne F
Young, Kevin B
Bischofberger, Norbert W
Role
CEO
P
D
O
O
Direct
Shares
4.26M
1.03M
0.84M
0.22M
0.17M
Value
431M
104M
84.8M
21.9M
16.7M
Reported
Date
04/01/15
02/17/15
05/06/14
01/23/14
04/15/15
Updated monthly as of 04/19/15
DETAILED STOCK REPORT TIPS

The Thomson Reuters Stock Report is a comprehensive, company-specific analysis
that includes a proprietary Stock Rating along with underlying component indicators
and supportive data elements. The report is updated daily, although some of the
data elements and the ratings are updated weekly.
Average Score
The Average Score combines a quantitative analysis of six widely-used investment
decision making tools - Earnings, Fundamental, Relative Valuation, Risk, Price
Momentum, and Insider Trading. First, a simple average of the six underlying
component ratings is calculated. Then, a normal distribution is used to rank each
stock across the market on a scale of 1 to 10, with 10 being most favorable. A
score of 8 to 10 is considered positive, 4 to 7 is neutral, and 1 to 3 is negative. These
six factors may be evaluated differently using alternative methodologies, and the
importance of individual factors varies across groups, market capitalization and
investment styles. Additional criteria should always be used to evaluate a stock.
A company must have sufficient data available for at least four of the six component
indicators in order to receive an overall Average Score. Approximately 85% of the
stocks within the coverage universe meet the criteria to generate a score.
Optimized Score
As an alternative to the average score, the Stock Report includes an Optimized Score
generated by independent research firm, Verus Analytics. It uses the same six
component ratings, but rather than equally weighting each of the factors, the
weighting varies by market capitalization of the underlying security based on
backtesting research. These scores are also updated weekly and distributed
normally on a 1 to 10 scale, with 10 being best. The variable size is assigned
monthly by ranking the market capitalization and assigning the appropriate category
as follows:
Large
Mid
Small
Micro
Top 5.55%
Next 13.87%
Next 34.68%
Remaining 45.9%
Indicator Components
The six indicators that comprise the stock rating are displayed. Like the stock rating,
the component rating scale is 1 to 10, with 10 being best. A company will receive
an NR for No Rating if the required data elements or criteria are not met. A
detailed section for each component is included in the report.
Indicator Trends
Within each component section, historical score trends are displayed, typically using
a 4-week moving average over a timeframe of the past three years. The dotted
orange line indicates the average of the scores over those three years. The most
recent occurrence of the best and worst scores are also displayed on the chart in
grey boxes to put the current score into historical context.
Next to the trend chart for the company, current score averages are included, along
with peer company comparisons of values from 6 months ago, 3 months ago, 1
month ago, the most recent value from 1 week ago, and the current score. The four
closest industry peers are presented based on similar market capitalization.
Peer Analysis
The Thomson Reuters Business Classification (TRBC) system is used for
industry comparisons. It is designed to track and display the primary business of
a corporation by grouping together correlated companies that offer products and
services into similar end markets. The system includes 10 Economic Sectors, 28
Business Sectors, 54 Industry Groups, and 136 Industries.
The Peer Analysis section of the report compares the company to its ten closest
peers. The peers are selected from the industry based on similar market
capitalization. The peer listing may have fewer than ten companies if there are
fewer than ten companies classified within that industry.
Highlights
The Thomson Reuters proprietary automated text-generation system creates
highlights summarizing the most noteworthy data. The bullets will vary by company
and will change from week to week as different criteria are met.
Earnings
The Earnings Rating is based on a combination of three factors: earnings surprises,
estimate revisions, and recommendation changes. Each factor is equally weighted.
Then, equal deciles are used to rank each stock across the market on a scale of 1
to 10, with 10 being most favorable. A stock needs to have at least two of the three
earnings factors in order to receive a score.
Page 11 of 12
Earnings Surprises - The number of positive and negative surprises within the
last 4 quarters.
Estimate Revisions - The number of up and down revisions and the average
percentage change of those revisions within a 4 week period.

Recommendation Changes - The number of broker upgrades and downgrades in
the last 120 days.

Price Target
The price target is based on the predictions of analysts covering the stock and
shows the high, low and mean price expected within the next 12 months.
Earnings Per Share
The quarterly and annual earnings per share are presented when available, along
with the mean, high and low. Quarterly data is displayed for the past 4 quarters
(actual) and the next 2 quarters (estimated). Annual data is displayed for the past 2
years (actual) and the next 2 years (estimated).
Mean Estimate Trend
The mean estimates show how the consensus has changed over the past 30 days
and 90 days for the upcoming two quarters and two years. The percentage change
is calculated for the company as a means for comparison by measuring the
difference between the current consensus estimate and that of 90 days ago.
Analyst Recommendations
The Thomson Reuters I/B/E/S Mean is the mean recommendation of all analysts
covering the stock. The recommendations are presented on a five-point
standardized scale: strong buy, buy, hold, reduce, and sell.
Earnings Surprises
The surprise summary includes the total number of quarters (and percentage) in
the past 12 quarters in which earnings surprises were positive, negative, or inline. In order to be recognized as a positive or negative surprise, the percent
must be greater than 2% above or 2% below the consensus, respectively.
The surprise detail section includes a listing of the company's quarterly earnings
reported for the most recent 6 quarters. The consensus analyst estimate is
provided to determine if the actual earnings report represented a positive
surprise, negative surprise, or in-line result.
Fundamental
The Fundamental Rating is based on a combination of four factors: profitability,
debt, earnings quality, and dividend. Companies that do not pay a dividend are not
penalized. Each factor is equally weighted. Then, equal deciles are used to rank
each stock across the market on a scale of 1 to 10, with 10 being most favorable. A
stock needs to have at least three of the four fundamental factors present for a
given fiscal quarter in order to receive a score.
Profitability is comprised of four data elements.
- Revenue Growth: (Net Sales Previous Net Sales) / Previous Net Sales
- Gross Margin: Gross Profit / Net Sales
- Return on Equity: Net Income / Total Equity
- Net Margin: Net Profit / Net Sales
Debt is comprised of four data elements.
- Current Ratio: Current Assets / Current Liabilities
- Debt-to-Capital: Total Debt / Total Capital
- Interest Funding: Interest Expense / Operating Cash Flow
- Interest Coverage: (Pre-Tax Income + Interest Expense) / Interest Expense
Earnings Quality is comprised of two data elements.
- Days Sales in Inventory: 365 / (Cost of Goods Sold / Inventory)
- Days Sales in Receivables: 365 / (Net Sales (Revenues) / Receivables)
Dividend is comprised of four data elements. The company must have a current
dividend yield.
- Dividend Growth Rate: (Dividends per Share Previous Dividends per Share)
/ Previous Dividends per Share
- Dividend Funding: Dividends / Operating Cash Flow
- Dividend Coverage: (Pre-Tax Income + Interest Expense) / (Interest Expense
+ Dividends)
- Dividend Yield: Annual Dividends per Share / Current Market Price per Share
Indicator Trend
The fundamental indicator trend displays quarterly scores over the past three years.
The best and worst scores over that timeframe can be easily determined from the
values shown on the chart for each quarter.

Relative Valuation
The Relative Valuation Rating is based on a combination of three factors: Forward
PEG (50% weight), Trailing P/E (25% weight), and Forward P/E (25% weight). After
the weightings are considered to combine individual factors, equal deciles are used
to rank each stock across the market on a scale of 1 to 10, with 10 being most
favorable. These common valuation metrics are evaluated against the overall
market, the index, and the company's own historic 5-year averages. A stock needs
to have at least one of the three relative valuation factors in order to receive a score.
Trailing P/E: Close Price / Most Recent 4 Quarters of Earnings
Forward P/E: Close Price/ Upcoming 4 Quarters of Earnings
Forward PEG: Forward P/E / Long-Term Forecasted Growth Rate
Valuation Averages
Negative values are excluded when calculating the averages. A maximum value of
100 is placed on Trailing P/E and Forward P/E, a maximum value of 5 is placed on
Forward PEG, and a maximum value of 20 is placed on Price to Sales when
calculating the averages. Higher values are rounded down to the maximum for the
averages.
Valuation Multiples
The valuation multiples provide the Trailing P/E, Forward P/E, Forward PEG, and
Price to Sales for the company and the S&P 500 index average. In addition, a
comparison of the current companys values to its 5-year average and an industry
average are presented. A discount occurs when the companys ratio is valued more
favorably (lower) than that to which it is compared.
Risk
The Risk Rating displays stocks on a scale of 1 to 10 with 10 being awarded to the
least risky stocks. It is derived by looking at a series of long-term (5-year) and
short-term (90-day) stock performance measures including volatility, magnitude of
returns, beta, and correlation. Each factor is equally weighted. Then, equal deciles
are used to rank each stock across the market. A stock needs to have at least two
of the four risk factors in order to receive a score.
Magnitude of Returns The best / worst daily returns in the past 90 days and the
best / worst monthly returns in the past 60 months.

Volatility The standard deviation of the stock price over the last 90 days and
Long-Term Insider Looks at buying, selling and option exercise decisions over
the past six months relative to other stocks within the same business sector. The
net shares are presented alongside the business sector average as a means of
comparison.
Monthly Buys and Sells
The total market value of open-market buying and selling is displayed by month in
the chart for easy comparison. Transactions by trusts and corporations are
excluded, along with buys greater than $10 million and sales greater than $50
million. Transactions for the exercise of derivatives and option exercises are
excluded from the totals.
Institutional Holders
The top five institutional holders of the company are listed in descending order,
based on their total share holdings. Possible values for the institution type include
Brokerage, Funds, Inv Mgmt, or Strategic.
Executive Holders
The top five executive insiders of the company are listed in descending order, based
on their total direct common share holdings (options are not considered). Indirect
holdings are excluded, as the owner may not actually have investment discretion
over these shares. This table is updated monthly. Insiders who have not filed any
transactions or holdings over the past two years are excluded as this may indicate
that the individual is no longer associated with the company. Additionally, direct
shares held must be greater than 1,000 to be considered.
Insider Roles
AF - Affiliate
B - Beneficial Owner
CB - Chairman
CEO - Chief Executive Officer
CFO - Chief Financial Officer
CM - Committee Member
CO - Chief Operating Officer
CT - Chief Technology Officer
D - Director
EVP - Exec Vice President
GC - General Counsel
O - Officer
OH - Other
P - President
R - Retired
SH - Shareholder
SVP - Senior Vice President
T - Trustee
TR - Treasurer
VC - Vice Chairman
VP - Vice President
last 60 months, along with the average and largest intra-day stock swing.
Beta Measures the tendency of a securitys returns to respond to swings in the
market, based on the beta of the company versus the relevant index.
Correlation Determines how closely the returns of the stock and the relevant
index move together, measured over the last 90 days and last 60 months.
Risk Analysis
Price analysis for the company and the S&P 500 is provided over two time periods.
Daily analysis is provided for the last 90 days, whereas monthly statistics are used
for the last 60 months.
Price Momentum
The Price Momentum Rating is based on a combination of two technical
performance factors: relative strength (70% weight) and seasonality (30% weight).
After the weightings are considered to combine individual factors, equal deciles are
used to rank each stock across the market on a scale of 1 to 10, with 10 being most
favorable. A stock needs to have data for the relative strength factor in order to
receive a score.
Relative Strength The relative strength of the company for the last 1 month, 3
months, and 6 months on a scale of 1 to 100.

Seasonality The average monthly return (price performance) for the current
month and next 2 months for the company and industry, over the past 10 years.
A lower industry rank indicates a higher return.
Price Performance
Daily close prices are used to calculate the price performance of the stock. The
performance of the S&P 500 is also displayed as a means of comparison.
Insider Trading
The Insider Trading Rating is based on short-term (60% weight) and long-term (40%
weight) legal insider trading behavior. After the weightings are considered to
combine individual factors, a function similar to a normal distribution is used to rank
each stock across the market on a scale of 1 to 10, with 10 being most favorable. A
stock needs to have at least one of the two insider trading factors in order to receive
a score.
Short-Term Insider Uses insider buy and sell transactions within the past 90
days. This factor is based on the Thomson Reuters quantitative insider trading
model that considers the insider's role, consensus, number of shares, market
capitalization of the company, and the historic stock performance following trades
by the given insider.
Page 12 of 12
DISCLAIMER
All information in this report is assumed to be accurate to the best of our ability.
Past performance is not a guarantee of future results. The information contained in
this report is not to be construed as advice and should not be confused as any sort
of advice. Investors should consider this report as only a single factor in making
their investment decision.

Gilead Sciences Inc (Gild-O) : Average Score

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GILEAD SCIENCES INC (GILD-O)

DETAILED STOCK REPORT

Pharma. & Med. Research / Pharmaceuticals / Pharmaceuticals

Report Date: April 20, 2015

Avg Daily Vol

April 17, 2015

POSITIVE OUTLOOK: GILD's current score of 8

Pharmaceuticals Group: 4.4

Average Score Trend (4-Week Moving Avg)

Mega Market Cap: 6.6

THOMSON REUTERS I/B/E/S MEAN

- The score for GILEAD SCIENCES INC has been on a positive

Mean recommendation from all analysts covering

PRICE AND VOLUME CHARTS

5-Year Return: 343.7%