Gilead Sciences Inc. (GILD) Sets New 12-Month Low After Insider Selling
Gilead Sciences Inc. (NASDAQ:GILD) shares hit a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $76.32 and last traded at $76.44, with a volume of 5,254,565 shares changing hands. The stock had previously closed at $77.57.
Specifically, EVP Gregg H. Alton sold 5,000 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $81.84, for a total value of $409,200.00. Following the completion of the sale, the executive vice president now owns 132,964 shares of the company’s stock, valued at $10,881,773.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John C. Martin sold 100,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $80.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now directly owns 4,119,727 shares of the company’s stock, valued at approximately $331,638,023.50. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Several research firms have recently issued reports on GILD. Piper Jaffray Cos. set a $108.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Sunday, August 21st. Jefferies Group reissued a “hold” rating and issued a $96.00 price objective on shares of Gilead Sciences in a research report on Wednesday, June 29th. RBC Capital Markets reissued an “outperform” rating and issued a $105.00 price objective (down previously from $120.00) on shares of Gilead Sciences in a research report on Tuesday, July 26th. Leerink Swann reissued an “outperform” rating and issued a $127.00 price objective on shares of Gilead Sciences in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $104.71.
The firm has a market cap of $100.94 billion, a P/E ratio of 6.7133 and a beta of 1.10. The stock has a 50-day moving average of $79.23 and a 200 day moving average of $85.24.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.06. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company earned $3.15 EPS. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts expect that Gilead Sciences Inc. will post $11.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were paid a $0.47 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. Gilead Sciences’s dividend payout ratio is presently 16.56%.
Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of Gilead Sciences by 0.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,170,640 shares of the biopharmaceutical company’s stock valued at $181,075,000 after buying an additional 8,430 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Gilead Sciences by 17.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,739,537 shares of the biopharmaceutical company’s stock valued at $159,794,000 after buying an additional 258,807 shares during the period. Geode Capital Management LLC increased its position in shares of Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock valued at $1,137,969,000 after buying an additional 161,505 shares during the period. Temasek Holdings Private Ltd increased its position in shares of Gilead Sciences by 8.1% in the first quarter. Temasek Holdings Private Ltd now owns 13,830,516 shares of the biopharmaceutical company’s stock valued at $1,270,471,000 after buying an additional 1,035,592 shares during the period. Finally, Omega Advisors Inc. bought a new position in shares of Gilead Sciences during the first quarter valued at about $47,491,000. Institutional investors own 77.94% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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