Gilead Sciences (NASDAQ:GILD) Given New $74.00 Price Target at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its target price lowered by Royal Bank of Canada from $76.00 to $74.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a sector perform rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on GILD. Cantor Fitzgerald decreased their price objective on Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a report on Wednesday, February 7th. UBS Group decreased their price target on Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. StockNews.com downgraded Gilead Sciences from a strong-buy rating to a buy rating in a research note on Friday, April 19th. HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price target for the company in a research note on Wednesday, April 24th. Finally, Barclays decreased their price target on Gilead Sciences from $85.00 to $80.00 and set an equal weight rating for the company in a research note on Monday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $83.60.

Gilead Sciences Trading Up 0.8 %

NASDAQ:GILD opened at $65.94 on Friday. Gilead Sciences has a 1-year low of $64.63 and a 1-year high of $87.86. The business’s 50-day moving average price is $71.16 and its two-hundred day moving average price is $76.17. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $82.10 billion, a price-to-earnings ratio of 183.17, a PEG ratio of 1.29 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. On average, equities analysts expect that Gilead Sciences will post 3.82 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.67%. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nilsine Partners LLC grew its position in Gilead Sciences by 1.1% during the 3rd quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock worth $891,000 after acquiring an additional 127 shares during the last quarter. Etesian Wealth Advisors Inc. grew its position in shares of Gilead Sciences by 0.7% in the 4th quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after buying an additional 128 shares during the last quarter. Financial Counselors Inc. grew its position in shares of Gilead Sciences by 1.5% in the 4th quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after buying an additional 128 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Gilead Sciences by 3.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 130 shares during the last quarter. Finally, Institutional & Family Asset Management LLC grew its position in shares of Gilead Sciences by 10.3% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 140 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

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, 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.