Investors Buy Shares of Gilead Sciences Inc. (GILD) on Weakness After Insider Selling
Investors bought shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading on Friday 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 stocks tracked, Gilead Sciences had the 26th highest net in-flow for the day. Gilead Sciences traded down ($1.36) for the day and closed at $76.21Specifically, insider John F. Milligan sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $77.74, for a total transaction of $5,441,800.00. Following the completion of the transaction, the insider now owns 1,128,963 shares of the company’s stock, valued at approximately $87,765,583.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John C. Martin sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $80.50, for a total value of $8,050,000.00. Following the transaction, 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. Corporate insiders own 1.40% of the company’s stock.
A number of research firms recently weighed in on GILD. Piper Jaffray Cos. set a $108.00 price objective on Gilead Sciences and gave the company a “buy” rating in a research report on Sunday, August 21st. Jefferies Group reaffirmed a “hold” rating and set a $96.00 price objective on shares of Gilead Sciences in a research report on Wednesday, June 29th. RBC Capital Markets reaffirmed an “outperform” rating and set 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 target price on shares of Gilead Sciences in a report on Wednesday, June 29th. Finally, Zacks Investment Research raised Gilead Sciences from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Ten 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 company’s stock. The company presently has an average rating of “Buy” and an average target price of $104.71.
The company has a 50 day moving average price of $78.95 and a 200-day moving average price of $85.05. The stock has a market cap of $99.29 billion, a P/E ratio of 6.60 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 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.06. The company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $3.15 EPS. Analysts anticipate that Gilead Sciences Inc. will post $11.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is currently 16.56%.
Large investors have recently made changes to their positions in the company. Kelman Lazarov Inc. bought a new stake in shares of Gilead Sciences during the first quarter valued at $651,000. Narwhal Capital Management increased its stake in shares of Gilead Sciences by 22.3% in the first quarter. Narwhal Capital Management now owns 23,965 shares of the biopharmaceutical company’s stock valued at $2,201,000 after buying an additional 4,375 shares in the last quarter. Boston Advisors LLC increased its stake in shares of Gilead Sciences by 13.8% in the first quarter. Boston Advisors LLC now owns 738,651 shares of the biopharmaceutical company’s stock valued at $67,852,000 after buying an additional 89,302 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Gilead Sciences by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,323 shares of the biopharmaceutical company’s stock valued at $1,057,000 after buying an additional 765 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in shares of Gilead Sciences by 7.2% in the first quarter. Carroll Financial Associates Inc. now owns 4,815 shares of the biopharmaceutical company’s stock valued at $442,000 after buying an additional 325 shares in the last quarter. 77.94% of the stock is currently owned by institutional investors.
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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