Traders Buy Gilead Sciences Inc. (GILD) on Weakness on Insider Selling
Investors bought shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading hours on Thursday following insider selling activity. $163.18 million flowed into the stock on the tick-up and $129.32 million flowed out of the stock on the tick-down, for a money net flow of $33.86 million into the stock. Of all equities tracked, Gilead Sciences had the 5th highest net in-flow for the day. Gilead Sciences traded down ($1.36) for the day and closed at $76.21Specifically, insider John C. Martin sold 100,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $80.50, for a total value of $8,050,000.00. Following the sale, the insider now owns 4,119,727 shares of the company’s stock, valued at approximately $331,638,023.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 22nd. The stock was 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 directly owns 132,964 shares in the company, valued at approximately $10,881,773.76. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
GILD has been the topic of a number of research reports. Royal Bank Of Canada lifted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday. Jefferies Group cut their target price on Gilead Sciences from $93.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, August 31st. Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Piper Jaffray Cos. reissued an “overweight” rating and set a $108.00 target price on shares of Gilead Sciences in a research report on Wednesday, August 31st. Finally, Leerink Swann set a $112.00 target price on Gilead Sciences and gave the company a “buy” rating in a research report on Thursday, September 22nd. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $104.71.
The firm’s 50-day moving average is $79.10 and its 200-day moving average is $85.17. The stock has a market cap of $100.57 billion, a price-to-earnings ratio of 6.69 and a beta of 1.10.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The business had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.15 EPS. Analysts expect that Gilead Sciences Inc. will post $11.76 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.
Several large investors have recently made changes to their positions in GILD. Van Hulzen Asset Management LLC raised its stake in shares of Gilead Sciences by 9.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 100 shares during the period. Joel Isaacson & Co. LLC raised its stake in shares of Gilead Sciences by 20.8% in the second quarter. Joel Isaacson & Co. LLC now owns 1,310 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 226 shares during the period. Roble Belko & Company Inc raised its stake in shares of Gilead Sciences by 340.5% in the second quarter. Roble Belko & Company Inc now owns 1,339 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,035 shares during the period. Pinkerton Retirement Specialists LLC raised its stake in shares of Gilead Sciences by 9,305.9% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,599 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 1,582 shares during the period. Finally, Jolley Asset Management LLC raised its stake in shares of Gilead Sciences by 67.3% in the second quarter. Jolley Asset Management LLC now owns 1,696 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 682 shares during the period. 77.94% of the stock is currently owned by institutional investors and hedge funds.
About Gilead Sciences
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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