Gilead Sciences (NASDAQ:GILD) Sets New 1-Year Low at $67.15

Gilead Sciences, Inc. (NASDAQ:GILD)’s share price hit a new 52-week low on Wednesday . The company traded as low as $67.15 and last traded at $67.45, with a volume of 320010 shares traded. The stock had previously closed at $67.31.

Analysts Set New Price Targets

Several research firms recently weighed in on GILD. Oppenheimer reduced their price target on shares of Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Wells Fargo & Company reduced their price target on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. Mizuho reduced their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Barclays reduced their price target on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, Truist Financial downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.36.

Gilead Sciences Stock Performance

The firm’s 50 day moving average price is $72.40 and its two-hundred day moving average price is $76.73. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43. The firm has a market cap of $83.89 billion, a PE ratio of 14.96, a PEG ratio of 0.86 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period last year, the company earned $1.67 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. On average, research analysts forecast that Gilead Sciences, Inc. will post 7.06 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.77 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.57%. Gilead Sciences’s dividend payout ratio is 68.44%.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of hedge funds have recently made changes to their positions in GILD. Norges Bank purchased a new position in shares of Gilead Sciences during the 4th quarter worth approximately $1,301,624,000. Arrowstreet Capital Limited Partnership lifted its holdings in Gilead Sciences by 324.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after buying an additional 13,764,169 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Gilead Sciences by 96,759.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,111,194 shares of the biopharmaceutical company’s stock worth $868,046,000 after buying an additional 10,100,755 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Gilead Sciences by 70.6% during the 1st quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock worth $921,006,000 after buying an additional 6,410,047 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Gilead Sciences by 78.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after buying an additional 3,362,505 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

About Gilead Sciences

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, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.