Needham & Company LLC Reaffirms Hold Rating for Gilead Sciences, Inc. (GILD)
A number of other analysts also recently issued reports on the company. BidaskClub downgraded Gilead Sciences from a buy rating to a hold rating in a research report on Wednesday, August 9th. Vetr downgraded Gilead Sciences from a strong-buy rating to a buy rating and set a $82.15 target price on the stock. in a research report on Monday. BMO Capital Markets reaffirmed a hold rating and issued a $76.00 target price (up previously from $75.00) on shares of Gilead Sciences in a research report on Wednesday, May 3rd. Cowen and Company reaffirmed an outperform rating and issued a $90.00 target price on shares of Gilead Sciences in a research report on Wednesday, July 5th. Finally, Morgan Stanley reaffirmed an equal weight rating on shares of Gilead Sciences in a research report on Tuesday, July 11th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $80.83.
Gilead Sciences (NASDAQ:GILD) opened at 81.23 on Monday. Gilead Sciences has a 1-year low of $63.76 and a 1-year high of $82.07. The firm has a market capitalization of $106.08 billion, a price-to-earnings ratio of 8.82 and a beta of 1.21. The stock has a 50 day moving average price of $72.97 and a 200 day moving average price of $68.86. Gilead Sciences also was the recipient of some unusual options trading on Monday. Stock traders purchased 19,878 put options on the stock. This is an increase of approximately 209% compared to the typical daily volume of 6,434 put options.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter last year, the business posted $3.08 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts predict that Gilead Sciences will post $8.73 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 22.58%.
In other Gilead Sciences news, EVP Gregg H. Alton sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the completion of the transaction, the executive vice president now directly owns 137,488 shares in the company, valued at $10,174,112. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.06, for a total transaction of $355,300.00. Following the transaction, the executive vice president now owns 102,988 shares of the company’s stock, valued at $7,318,327.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,666 shares of company stock valued at $15,223,184. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GILD. Hall Laurie J Trustee increased its position in shares of Gilead Sciences by 20.0% in the first quarter. Hall Laurie J Trustee now owns 1,500 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 250 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Gilead Sciences by 583.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 1,400 shares during the period. Dubuque Bank & Trust Co. increased its position in shares of Gilead Sciences by 19.4% in the first quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 267 shares during the period. Penserra Capital Management LLC increased its position in shares of Gilead Sciences by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 144 shares during the period. Finally, Webster Bank N. A. increased its position in shares of Gilead Sciences by 51.7% in the first quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 624 shares during the period. Institutional investors and hedge funds own 74.04% of the company’s stock.
Gilead Sciences Company Profile
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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