Goldman Sachs Group Inc. reissued their neutral rating on shares of Gilead Sciences Inc. (NASDAQ:GILD) in a research report sent to investors on Tuesday. The brokerage currently has a $80.00 target price on the biopharmaceutical company’s stock.
Several other analysts also recently weighed in on the stock. Leerink Swann downgraded shares of Gilead Sciences from an outperform rating to a market perform rating and dropped their target price for the company from $112.00 to $94.00 in a report on Tuesday. Zacks Investment Research upgraded shares of Gilead Sciences from a sell rating to a hold rating in a research note on Monday. Bank of America Corp. restated a neutral rating and issued a $100.00 price target on shares of Gilead Sciences in a research note on Sunday, September 25th. Gabelli restated a buy rating on shares of Gilead Sciences in a research note on Friday, September 23rd. Finally, Piper Jaffray Cos. set a $108.00 price target on shares of Gilead Sciences and gave the stock a buy rating in a research note on Thursday, September 22nd. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $104.34.
Gilead Sciences (NASDAQ:GILD) opened at 77.86 on Tuesday. Gilead Sciences has a 52-week low of $76.67 and a 52-week high of $111.11. The firm has a market capitalization of $102.75 billion, a P/E ratio of 6.83 and a beta of 1.06. The company has a 50 day moving average price of $79.41 and a 200 day moving average price of $85.61.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share 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 firm earned $7.78 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter last year, the firm earned $3.15 EPS. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, equities analysts forecast that Gilead Sciences 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 paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is currently 16.56%.
In other news, 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. Company insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in Gilead Sciences during the second quarter valued at about $427,750,000. Capital World Investors raised its stake in Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock valued at $1,277,907,000 after buying an additional 3,380,000 shares during the last quarter. Investec Asset Management LTD acquired a new stake in Gilead Sciences during the first quarter valued at about $280,342,000. Parnassus Investments CA raised its stake in Gilead Sciences by 45.4% in the second quarter. Parnassus Investments CA now owns 8,460,484 shares of the biopharmaceutical company’s stock valued at $705,774,000 after buying an additional 2,640,284 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Gilead Sciences during the first quarter valued at about $180,268,000. 77.94% of the stock is 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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