Gilead Sciences, Inc. (GILD) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Gilead Sciences, Inc. (NASDAQ:GILD) from a buy rating to a hold rating in a research note issued to investors on Wednesday, August 9th.

A number of other research analysts also recently issued reports on the company. Vetr raised Gilead Sciences from a buy rating to a strong-buy rating and set a $74.58 price target on the stock in a report on Tuesday, April 18th. Zacks Investment Research raised Gilead Sciences from a hold rating to a buy rating and set a $76.00 target price on the stock in a report on Tuesday, May 2nd. Barclays PLC reissued an overweight rating and issued a $85.00 target price (down previously from $90.00) on shares of Gilead Sciences in a report on Sunday, April 23rd. Credit Suisse Group reissued an outperform rating and issued a $79.00 target price on shares of Gilead Sciences in a report on Monday, May 15th. Finally, William Blair reissued an outperform rating on shares of Gilead Sciences in a report on Wednesday, April 26th. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Gilead Sciences presently has an average rating of Buy and an average price target of $80.31.

Gilead Sciences (NASDAQ GILD) traded down 0.32% during trading on Wednesday, hitting $72.11. 6,052,601 shares of the stock were exchanged. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $82.10. The firm has a 50-day moving average of $72.61 and a 200-day moving average of $68.83. The stock has a market capitalization of $94.17 billion, a price-to-earnings ratio of 7.83 and a beta of 1.21.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.45. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. Equities research analysts anticipate that Gilead Sciences will post $8.75 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.88%. Gilead Sciences’s dividend payout ratio is presently 22.58%.

In other news, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total value of $5,206,643.00. Following the transaction, the insider now directly owns 3,199,969 shares in the company, valued at approximately $227,197,799. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregg H. Alton sold 40,000 shares of Gilead Sciences stock in a transaction on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the transaction, the executive vice president now owns 137,488 shares in the company, valued at $10,174,112. The disclosure for this sale can be found here. Insiders sold a total of 206,666 shares of company stock worth $15,223,184 over the last quarter. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of GILD. WFG Advisors LP increased its stake in Gilead Sciences by 42.5% in the second quarter. WFG Advisors LP now owns 3,197 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 953 shares during the last quarter. Toronto Dominion Bank boosted its position in Gilead Sciences by 19.0% in the second quarter. Toronto Dominion Bank now owns 472,577 shares of the biopharmaceutical company’s stock worth $33,445,000 after buying an additional 75,364 shares during the last quarter. Cetera Investment Advisers boosted its position in Gilead Sciences by 41.5% in the second quarter. Cetera Investment Advisers now owns 11,207 shares of the biopharmaceutical company’s stock worth $792,000 after buying an additional 3,288 shares during the last quarter. Afam Capital Inc. boosted its position in Gilead Sciences by 6.2% in the second quarter. Afam Capital Inc. now owns 67,601 shares of the biopharmaceutical company’s stock worth $4,785,000 after buying an additional 3,966 shares during the last quarter. Finally, Bangor Savings Bank boosted its position in Gilead Sciences by 30.1% in the second quarter. Bangor Savings Bank now owns 18,161 shares of the biopharmaceutical company’s stock worth $1,285,000 after buying an additional 4,201 shares during the last quarter. Institutional investors and hedge funds own 74.02% 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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