Gilead Sciences Inc. (GILD) Coverage Initiated at Stifel Nicolaus
Stock analysts at Stifel Nicolaus started coverage on shares of Gilead Sciences Inc. (NASDAQ:GILD) in a research note issued on Monday. The brokerage set a “buy” rating and a $100.00 price target on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 30.98% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages also recently weighed in on GILD. Jefferies Group reissued a “buy” rating on shares of Gilead Sciences in a report on Tuesday, November 8th. Mizuho assumed coverage on shares of Gilead Sciences in a report on Monday, November 7th. They issued a “buy” rating and a $88.00 price target for the company. Zacks Investment Research raised shares of Gilead Sciences from a “strong sell” rating to a “hold” rating in a report on Monday, November 7th. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a report on Sunday, November 6th. Finally, Barclays PLC reissued an “overweight” rating and issued a $105.00 price target on shares of Gilead Sciences in a report on Friday, November 4th. Ten investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $97.90.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 76.35 on Monday. The company has a 50-day moving average of $75.21 and a 200-day moving average of $80.71. The stock has a market capitalization of $100.59 billion, a P/E ratio of 7.06 and a beta of 1.25. Gilead Sciences has a 12-month low of $71.39 and a 12-month high of $108.63.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $2.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.87 by $0.12. The company earned $7.40 billion during the quarter, compared to the consensus estimate of $7.47 billion. Gilead Sciences had a net margin of 47.74% and a return on equity of 100.57%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.22 EPS. Equities analysts expect that Gilead Sciences will post $11.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be given a $0.47 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.88 dividend on an annualized basis and a yield of 2.46%. Gilead Sciences’s payout ratio is 17.44%.
In related news, Director Kevin E. Lofton sold 3,500 shares of Gilead Sciences stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $81.97, for a total value of $286,895.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction dated 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 owns 132,964 shares of the company’s stock, valued at $10,881,773.76. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in GILD. BNP Paribas Arbitrage SA raised its position in 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 last quarter. Adage Capital Partners GP L.L.C. raised its position in 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 last quarter. Evercore Wealth Management LLC raised its position in Gilead Sciences by 1.0% in the second quarter. Evercore Wealth Management LLC now owns 457,553 shares of the biopharmaceutical company’s stock valued at $38,169,000 after buying an additional 4,467 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Gilead Sciences by 6.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 444,773 shares of the biopharmaceutical company’s stock valued at $37,103,000 after buying an additional 27,717 shares during the last quarter. Finally, Temasek Holdings Private Ltd raised its position in 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 last quarter. Hedge funds and other institutional investors own 76.90% of the company’s stock.
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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