Traders Buy Gilead Sciences Inc. (GILD) on Weakness
Traders bought shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading hours on Wednesday. $163.17 million flowed into the stock on the tick-up and $147.25 million flowed out of the stock on the tick-down, for a money net flow of $15.92 million into the stock. Of all stocks tracked, Gilead Sciences had the 22nd highest net in-flow for the day. Gilead Sciences traded down ($0.43) for the day and closed at $78.90
Several brokerages have recently weighed in on GILD. Credit Suisse Group AG reiterated an “outperform” rating and issued a $120.00 price target (up from $116.00) on shares of Gilead Sciences in a report on Thursday, April 28th. Royal Bank Of Canada reiterated a “buy” rating on shares of Gilead Sciences in a report on Saturday, April 30th. Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $116.00 price objective (down previously from $120.00) on shares of Gilead Sciences in a research note on Wednesday, May 4th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Gilead Sciences in a research note on Saturday, May 14th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Gilead Sciences presently has a consensus rating of “Buy” and a consensus target price of $107.37.
The stock has a market cap of $104.12 billion and a P/E ratio of 6.92. The stock has a 50 day moving average of $83.23 and a 200-day moving average of $87.76.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.06. During the same quarter in the prior year, the company earned $3.15 EPS. The company earned $7.78 billion during the quarter, compared to analyst estimates of $7.80 billion. The business’s revenue was down 5.7% on a year-over-year basis. On average, equities analysts anticipate that Gilead Sciences Inc. will post $11.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.88 annualized dividend and a yield of 2.38%.
In other news, insider John C. Martin sold 100,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $80.50, for a total transaction of $8,050,000.00. Following the completion of the sale, the insider now owns 4,119,727 shares in the company, valued at $331,638,023.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Rutherford Carter sold 2,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $87.02, for a total transaction of $174,040.00. Following the sale, the executive vice president now owns 63,122 shares of the company’s stock, valued at approximately $5,492,876.44. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $8,656,555,000 after buying an additional 596,921 shares during the period. Morgan Stanley increased its stake 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 valued at $1,074,043,000 after buying an additional 1,616,773 shares during the period. OppenheimerFunds Inc. increased its stake 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 valued at $937,207,000 after buying an additional 1,153,162 shares during the period. Agran Libbie increased its stake 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 valued at $9,109,000 after buying an additional 8,912,901 shares during the period. Finally, Boston Partners increased its stake 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 valued at $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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