Gilead Sciences (NASDAQ:GILD) Shares Gap Down – Time to Sell?

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) gapped down before the market opened on Tuesday . The stock had previously closed at $113.00, but opened at $109.89. Gilead Sciences shares last traded at $111.24, with a volume of 1,628,933 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Wells Fargo & Company raised their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Thursday, February 13th. Bank of America boosted their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $110.55.

Gilead Sciences Price Performance

The company has a market cap of $138.07 billion, a P/E ratio of 299.66, a P/E/G ratio of 0.71 and a beta of 0.29. The firm has a 50 day moving average of $105.41 and a 200-day moving average of $101.80. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The company had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same quarter last year, the business posted ($1.32) earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s dividend payout ratio is currently 66.53%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares of the company’s stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the sale, the chief executive officer now directly owns 620,268 shares of the company’s stock, valued at approximately $68,489,992.56. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,000 shares of company stock valued at $4,630,310. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Gilead Sciences

Several institutional investors and hedge funds have recently modified their holdings of GILD. 1248 Management LLC bought a new position in Gilead Sciences during the 1st quarter worth about $50,000. Fruth Investment Management purchased a new stake in shares of Gilead Sciences during the first quarter valued at about $237,000. First Hawaiian Bank boosted its holdings in shares of Gilead Sciences by 1.3% in the 1st quarter. First Hawaiian Bank now owns 56,836 shares of the biopharmaceutical company’s stock valued at $6,368,000 after buying an additional 721 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Gilead Sciences in the 1st quarter worth approximately $190,000. Finally, Modern Wealth Management LLC raised its stake in shares of Gilead Sciences by 24.4% during the 1st quarter. Modern Wealth Management LLC now owns 6,899 shares of the biopharmaceutical company’s stock worth $773,000 after acquiring an additional 1,351 shares in the last quarter. 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.