Gilead Sciences (NASDAQ:GILD) Price Target Lowered to $77.00 at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its price objective decreased by Royal Bank of Canada from $78.00 to $77.00 in a report issued on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets decreased their price objective on Gilead Sciences from $100.00 to $95.00 in a report on Tuesday, July 18th. HSBC initiated coverage on Gilead Sciences in a report on Wednesday, September 6th. They issued a reduce rating and a $71.00 price objective on the stock. Truist Financial reiterated a buy rating and issued a $91.00 price objective on shares of Gilead Sciences in a report on Wednesday, September 6th. Piper Sandler decreased their price objective on Gilead Sciences from $105.00 to $100.00 and set an overweight rating on the stock in a report on Monday, July 24th. Finally, Morgan Stanley lifted their price objective on Gilead Sciences from $86.00 to $88.00 and gave the stock an equal weight rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of Hold and an average target price of $88.22.

Gilead Sciences Trading Up 1.2 %

NASDAQ GILD opened at $75.45 on Tuesday. The stock’s 50-day simple moving average is $76.82 and its two-hundred day simple moving average is $77.30. Gilead Sciences has a twelve month low of $72.87 and a twelve month high of $89.74. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $94.01 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.00 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.38. Gilead Sciences had a return on equity of 39.30% and a net margin of 21.45%. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter last year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Research analysts forecast that Gilead Sciences will post 6.76 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, December 14th. This represents a $3.00 annualized dividend and a yield of 3.98%. Gilead Sciences’s payout ratio is 64.38%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the chief financial officer now directly owns 104,003 shares of the company’s stock, valued at approximately $8,320,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Merdad Parsey sold 1,501 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the sale, the insider now directly owns 70,130 shares of the company’s stock, valued at approximately $5,399,308.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the chief financial officer now directly owns 104,003 shares in the company, valued at $8,320,240. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

A number of hedge funds have recently made changes to their positions in GILD. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Gilead Sciences by 98,797.6% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 394,005,889 shares of the biopharmaceutical company’s stock worth $30,366,034,000 after acquiring an additional 393,607,491 shares during the last quarter. Capital World Investors raised its holdings in Gilead Sciences by 5.8% in the 2nd quarter. Capital World Investors now owns 80,929,316 shares of the biopharmaceutical company’s stock worth $6,237,075,000 after acquiring an additional 4,429,076 shares during the last quarter. State Street Corp raised its holdings in Gilead Sciences by 2.6% in the 2nd quarter. State Street Corp now owns 59,317,162 shares of the biopharmaceutical company’s stock worth $4,571,574,000 after acquiring an additional 1,514,894 shares during the last quarter. Geode Capital Management LLC raised its holdings in Gilead Sciences by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 24,212,636 shares of the biopharmaceutical company’s stock worth $1,861,363,000 after acquiring an additional 447,585 shares during the last quarter. Finally, FMR LLC raised its holdings in Gilead Sciences by 27.2% in the 1st quarter. FMR LLC now owns 20,909,082 shares of the biopharmaceutical company’s stock worth $1,734,826,000 after acquiring an additional 4,470,179 shares during the last quarter. 82.33% of the stock is owned by institutional investors.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.