Short Interest in Gilead Sciences, Inc. (NASDAQ:GILD) Grows By 25.9%

Gilead Sciences, Inc. (NASDAQ:GILD) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totalling 16,844,547 shares, an increase of 25.9% from the July 14th total of 13,378,379 shares. Based on an average daily trading volume, of 9,066,173 shares, the short-interest ratio is currently 1.9 days. Approximately 1.3% of the company’s stock are sold short.

Shares of Gilead Sciences (GILD) opened at 72.70 on Friday. Gilead Sciences has a 12-month low of $63.76 and a 12-month high of $82.10. The stock has a 50 day moving average of $72.31 and a 200-day moving average of $68.76. The company has a market capitalization of $94.94 billion, a PE ratio of 7.90 and a beta of 1.21.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a net margin of 42.98% and a return on equity of 57.17%. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts predict that Gilead Sciences will post $8.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.86%. Gilead Sciences’s payout ratio is 22.58%.

Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, July 28th. Cowen and Company reissued an “outperform” rating and set a $90.00 price objective on shares of Gilead Sciences in a report on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and set a $81.00 price objective (up from $79.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $82.00 price objective (up from $72.00) on shares of Gilead Sciences in a report on Thursday, July 27th. Twelve equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Gilead Sciences presently has a consensus rating of “Buy” and an average target price of $80.31.

In other news, EVP Gregg H. Alton sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the transaction, the executive vice president now owns 137,488 shares in the company, valued at $10,174,112. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total transaction of $5,206,643.00. Following the completion of the transaction, the insider now owns 3,199,969 shares in the company, valued at approximately $227,197,799. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,666 shares of company stock worth $15,223,184. Insiders own 1.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Gilead Sciences by 1.9% in the second quarter. BlackRock Inc. now owns 104,906,494 shares of the biopharmaceutical company’s stock worth $7,425,281,000 after buying an additional 1,937,031 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Gilead Sciences by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 30,881,405 shares of the biopharmaceutical company’s stock worth $2,185,784,000 after buying an additional 310,607 shares during the last quarter. Parnassus Investments CA raised its stake in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Franklin Resources Inc. raised its stake in Gilead Sciences by 1.0% in the second quarter. Franklin Resources Inc. now owns 14,516,058 shares of the biopharmaceutical company’s stock worth $1,027,436,000 after buying an additional 136,884 shares during the last quarter. Finally, Norges Bank purchased a new stake in Gilead Sciences during the fourth quarter worth $997,048,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

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About Gilead Sciences

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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