Vetr cut shares of Gilead Sciences, Inc. (NASDAQ:GILD) from a strong-buy rating to a buy rating in a report issued on Thursday, May 11th. The firm currently has $74.34 price objective on the biopharmaceutical company’s stock.
A number of other research analysts have also weighed in on the stock. Cowen and Company set a $100.00 price target on shares of Gilead Sciences and gave the company a buy rating in a research note on Monday, February 6th. Royal Bank of Canada cut their price target on shares of Gilead Sciences to $75.00 in a research note on Wednesday, February 8th. BMO Capital Markets reaffirmed a hold rating and issued a $76.00 price target (up previously from $75.00) on shares of Gilead Sciences in a research note on Wednesday, May 3rd. Barclays PLC reaffirmed an outperform rating and issued a $90.00 price target on shares of Gilead Sciences in a research note on Saturday, March 11th. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and issued a $82.00 price target on shares of Gilead Sciences in a research note on Thursday, April 6th. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $80.61.
Shares of Gilead Sciences (NASDAQ:GILD) traded down 1.06% during midday trading on Thursday, hitting $64.12. 10,246,580 shares of the company traded hands. Gilead Sciences has a 12-month low of $63.76 and a 12-month high of $88.85. The stock has a market capitalization of $83.79 billion, a P/E ratio of 6.78 and a beta of 1.20. The stock’s 50-day moving average is $65.64 and its 200 day moving average is $69.18.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.02. Gilead Sciences had a net margin of 43.42% and a return on equity of 76.64%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.66 billion. On average, analysts expect that Gilead Sciences will post $8.20 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Friday, June 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Wednesday, June 14th. Gilead Sciences’s dividend payout ratio is currently 21.99%.
In other news, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $67.18, for a total value of $4,926,510.94. Following the completion of the transaction, the insider now owns 3,199,969 shares of the company’s stock, valued at $214,973,917.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $67.48, for a total transaction of $337,400.00. Following the sale, the executive vice president now directly owns 117,988 shares of the company’s stock, valued at approximately $7,961,830.24. The disclosure for this sale can be found here. Insiders sold 88,276 shares of company stock valued at $5,932,578 in the last ninety days. 1.30% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Gilead Sciences by 2,789.0% in the first quarter. BlackRock Inc. now owns 102,969,463 shares of the biopharmaceutical company’s stock worth $6,993,686,000 after buying an additional 99,405,266 shares in the last quarter. Norges Bank purchased a new stake in Gilead Sciences during the fourth quarter worth $997,048,000. Vanguard Group Inc. increased its stake in Gilead Sciences by 7.3% in the first quarter. Vanguard Group Inc. now owns 90,693,263 shares of the biopharmaceutical company’s stock worth $6,159,886,000 after buying an additional 6,197,361 shares in the last quarter. Parnassus Investments CA increased its stake in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Gilead Sciences during the third quarter worth $271,588,000. 74.04% of the stock is owned by institutional investors and hedge funds.
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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