Leerink Swann lowered shares of Gilead Sciences Inc. (NASDAQ:GILD) from an outperform rating to a market perform rating in a research report released on Tuesday morning. They currently have $94.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $112.00.
GILD has been the topic of several other reports. Barclays PLC restated an overweight rating on shares of Gilead Sciences in a report on Thursday, July 28th. Bank of America Corp. reiterated a neutral rating and issued a $100.00 target price on shares of Gilead Sciences in a research report on Sunday, September 25th. Zacks Investment Research lowered Gilead Sciences from a buy rating to a hold rating in a research report on Thursday, July 28th. RBC Capital Markets set a $105.00 target price on Gilead Sciences and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, Morgan Stanley set a $100.00 target price on Gilead Sciences and gave the stock a hold rating in a research report on Tuesday, September 6th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $104.34.
Gilead Sciences (NASDAQ:GILD) opened at 77.86 on Tuesday. The firm has a market capitalization of $102.75 billion, a P/E ratio of 6.83 and a beta of 1.06. The stock’s 50 day moving average price is $79.41 and its 200-day moving average price is $85.61. Gilead Sciences has a 12 month low of $76.67 and a 12 month high of $111.11.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.06. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the previous year, the business earned $3.15 EPS. Gilead Sciences’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, analysts forecast that Gilead Sciences will post $11.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were issued a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.88 annualized dividend and a yield of 2.41%. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.
In other news, EVP Gregg H. Alton sold 5,000 shares of the company’s 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 sale, the executive vice president now directly owns 132,964 shares in the company, valued at approximately $10,881,773.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John C. Martin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $77.48, for a total value of $7,748,000.00. Following the completion of the sale, the insider now owns 3,287,810 shares in the company, valued at $254,739,518.80. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in GILD. Adage Capital Partners GP L.L.C. raised its stake 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 in the last quarter. Geode Capital Management LLC raised its stake in Gilead Sciences by 1.3% in the first quarter. Geode Capital Management LLC now owns 12,410,846 shares of the biopharmaceutical company’s stock valued at $1,137,969,000 after buying an additional 161,505 shares in the last quarter. Temasek Holdings Private Ltd raised its stake 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 in the last quarter. Omega Advisors Inc. bought a new stake in Gilead Sciences during the first quarter valued at $47,491,000. Finally, Riverhead Capital Management LLC raised its stake in Gilead Sciences by 84.2% in the first quarter. Riverhead Capital Management LLC now owns 756,049 shares of the biopharmaceutical company’s stock valued at $69,450,000 after buying an additional 345,518 shares in the last quarter. Institutional investors own 77.94% 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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