Investors Buy Gilead Sciences Inc. (GILD) on Weakness
Traders purchased shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading on Thursday. $174.92 million flowed into the stock on the tick-up and $112.68 million flowed out of the stock on the tick-down, for a money net flow of $62.24 million into the stock. Of all stocks tracked, Gilead Sciences had the 3rd highest net in-flow for the day. Gilead Sciences traded down ($0.11) for the day and closed at $80.59
Several equities research analysts recently issued reports on the company. Morgan Stanley reiterated a “hold” rating and issued a $103.00 price objective on shares of Gilead Sciences in a report on Wednesday, June 15th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $108.00 price objective on shares of Gilead Sciences in a report on Monday, August 15th. Jefferies Group reiterated a “hold” rating and issued a $97.00 price objective on shares of Gilead Sciences in a report on Friday, July 15th. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a report on Sunday, July 10th. Finally, Vetr upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating and set a $105.06 price objective on the stock in a report on Monday, May 2nd. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $107.37.
The company’s 50 day moving average price is $82.88 and its 200 day moving average price is $87.37. The company has a market cap of $106.89 billion and a PE ratio of 7.11.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.06. 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. During the same quarter in the previous year, the firm earned $3.15 earnings per share. On average, equities analysts forecast that Gilead Sciences Inc. will post $11.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, September 16th will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.32%.
In other news, CEO John F. Milligan sold 112,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $86.94, for a total transaction of $9,737,280.00. Following the completion of the transaction, the chief executive officer now directly owns 1,170,963 shares in the company, valued at $101,803,523.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John C. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $84.73, for a total value of $8,473,000.00. Following the transaction, the chairman now owns 4,119,727 shares of the company’s stock, valued at $349,064,468.71. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of GILD. Sfmg LLC increased its position in shares of Gilead Sciences by 5.2% in the fourth quarter. Sfmg LLC now owns 10,619 shares of the biopharmaceutical company’s stock valued at $1,075,000 after buying an additional 522 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. increased its position in shares of Gilead Sciences by 1.0% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 2,277,664 shares of the biopharmaceutical company’s stock valued at $232,686,000 after buying an additional 23,105 shares in the last quarter. TMD & Associates Inc. acquired a new position in shares of Gilead Sciences during the fourth quarter valued at about $2,539,000. Synovus Financial Corp increased its position in shares of Gilead Sciences by 8.0% in the fourth quarter. Synovus Financial Corp now owns 98,651 shares of the biopharmaceutical company’s stock valued at $9,964,000 after buying an additional 7,307 shares in the last quarter. Finally, Edgemoor Investment Advisors Inc. increased its position in shares of Gilead Sciences by 1.1% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 176,263 shares of the biopharmaceutical company’s stock valued at $17,836,000 after buying an additional 1,857 shares in the last quarter.
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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