ValuEngine cut shares of Gilead Sciences, Inc. (NASDAQ:GILD) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.
Other research analysts have also issued reports about the stock. Jefferies Group LLC restated a hold rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Tuesday, July 11th. BMO Capital Markets restated an outperform rating and set a $82.00 price objective (up from $72.00) on shares of Gilead Sciences in a research note on Thursday, July 27th. J P Morgan Chase & Co restated an overweight rating and set a $82.00 price objective on shares of Gilead Sciences in a research note on Tuesday, July 4th. Leerink Swann restated a market perform rating on shares of Gilead Sciences in a research note on Thursday, June 22nd. Finally, BidaskClub upgraded shares of Gilead Sciences from a strong sell rating to a sell rating in a research note on Thursday, June 22nd. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Gilead Sciences has an average rating of Buy and a consensus price target of $83.79.
Gilead Sciences (NASDAQ:GILD) traded up 0.09% during midday trading on Wednesday, reaching $82.36. 12,401,948 shares of the company’s stock were exchanged. The company has a market cap of $107.56 billion, a price-to-earnings ratio of 8.95 and a beta of 1.19. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $86.27. The firm has a 50-day moving average price of $77.16 and a 200 day moving average price of $70.20.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.45. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.08 EPS. Analysts anticipate that Gilead Sciences will post $8.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is 22.58%.
In related news, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction that occurred on 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 completion of 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 the SEC website. Also, insider John C. Martin sold 73,333 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.00, for a total transaction of $5,206,643.00. Following the completion of the transaction, the insider now directly owns 3,199,969 shares of the company’s stock, valued at approximately $227,197,799. The disclosure for this sale can be found here. In the last three months, insiders sold 466,819 shares of company stock valued at $36,740,240. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GILD. Capital Investment Advisors LLC increased its position in Gilead Sciences by 22.4% in the 1st quarter. Capital Investment Advisors LLC now owns 25,054 shares of the biopharmaceutical company’s stock valued at $1,702,000 after acquiring an additional 4,580 shares during the period. TB Alternative Assets Ltd. acquired a new position in Gilead Sciences in the 1st quarter valued at approximately $2,588,000. Greylin Investment Mangement Inc. acquired a new position in Gilead Sciences in the 1st quarter valued at approximately $1,226,000. Coastline Trust Co acquired a new position in Gilead Sciences in the 1st quarter valued at approximately $340,000. Finally, St. Johns Investment Management Company LLC increased its position in Gilead Sciences by 7.9% in the 1st quarter. St. Johns Investment Management Company LLC now owns 3,822 shares of the biopharmaceutical company’s stock valued at $260,000 after acquiring an additional 281 shares during the period. Hedge funds and other institutional investors own 74.05% 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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