Investors Buy Shares of Gilead Sciences Inc. (GILD) on Weakness
Traders purchased shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading hours on Friday. $357.33 million flowed into the stock on the tick-up and $281.22 million flowed out of the stock on the tick-down, for a money net flow of $76.11 million into the stock. Of all stocks tracked, Gilead Sciences had the 13th highest net in-flow for the day. Gilead Sciences traded down ($1.77) for the day and closed at $79.47
Several research firms have recently weighed in on GILD. Argus cut Gilead Sciences from a “buy” rating to a “hold” rating and lowered their price target for the company from $88.00 to $81.00 in a report on Friday. Zacks Investment Research cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Thursday. Barclays PLC reissued an “overweight” rating on shares of Gilead Sciences in a report on Thursday. Maxim Group set a $88.55 price target on Gilead Sciences and gave the company a “hold” rating in a report on Wednesday. Finally, BMO Capital Markets reissued a “market perform” rating and set a $98.00 price target (up from $97.00) on shares of Gilead Sciences in a report on Wednesday. Eleven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $107.37.
The firm has a market capitalization of $105.77 billion and a price-to-earnings ratio of 6.97. The stock’s 50-day moving average is $84.02 and its 200 day moving average is $88.46.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.06. The firm earned $7.78 billion during the quarter, compared to analyst estimates of $7.80 billion. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $3.15 EPS. Equities research analysts forecast that Gilead Sciences Inc. will post $11.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be given a $0.47 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.37%.
In other Gilead Sciences news, CEO John F. Milligan sold 112,000 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $87.71, for a total value of $9,823,520.00. Following the completion of the transaction, the chief executive officer now owns 1,170,963 shares in the company, valued at $102,705,164.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John C. Martin sold 100,000 shares of the company’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $87.82, for a total transaction of $8,782,000.00. Following the completion of the transaction, the chairman now owns 4,119,727 shares of the company’s stock, valued at approximately $361,794,425.14. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently modified their holdings of GILD. Vanguard Group Inc. increased its position in shares of Gilead Sciences by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 85,547,536 shares of the biopharmaceutical company’s stock worth $8,656,555,000 after buying an additional 596,921 shares during the period. Morgan Stanley increased its position in shares of Gilead Sciences by 18.0% in the fourth quarter. Morgan Stanley now owns 10,614,126 shares of the biopharmaceutical company’s stock worth $1,074,043,000 after buying an additional 1,616,773 shares during the period. OppenheimerFunds Inc. increased its position in shares of Gilead Sciences by 14.2% in the fourth quarter. OppenheimerFunds Inc. now owns 9,261,694 shares of the biopharmaceutical company’s stock worth $937,207,000 after buying an additional 1,153,162 shares during the period. Agran Libbie increased its position in shares of Gilead Sciences by 10,050.3% in the fourth quarter. Agran Libbie now owns 9,001,584 shares of the biopharmaceutical company’s stock worth $9,109,000 after buying an additional 8,912,901 shares during the period. Finally, Boston Partners increased its position in shares of Gilead Sciences by 1.4% in the fourth quarter. Boston Partners now owns 6,843,182 shares of the biopharmaceutical company’s stock worth $692,462,000 after buying an additional 93,588 shares during the period.
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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