Investors Buy Gilead Sciences Inc. (GILD) on Weakness
Traders purchased shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading on Friday. $152.92 million flowed into the stock on the tick-up and $108.72 million flowed out of the stock on the tick-down, for a money net flow of $44.20 million into the stock. Of all companies tracked, Gilead Sciences had the 10th highest net in-flow for the day. Gilead Sciences traded down ($0.53) for the day and closed at $76.89
Several research analysts recently weighed in on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $108.00 target price on shares of Gilead Sciences in a report on Wednesday. Jefferies Group dropped their target price on shares of Gilead Sciences from $93.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday. Leerink Swann reaffirmed an “outperform” rating and issued a $112.00 target price (down previously from $114.00) on shares of Gilead Sciences in a report on Wednesday, August 24th. RBC Capital Markets set a $105.00 target price on shares of Gilead Sciences and gave the stock a “buy” rating in a report on Thursday, August 11th. Finally, Argus downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $88.00 to $81.00 in a report on Friday, July 29th. 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. The stock currently has a consensus rating of “Buy” and an average price target of $106.74.
The company has a market cap of $101.47 billion and a price-to-earnings ratio of 6.75. The stock has a 50 day moving average of $81.16 and a 200-day moving average of $86.85.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share for the quarter, topping the 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. During the same period in the previous year, the company earned $3.15 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Gilead Sciences Inc. will post $11.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 16th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, September 14th.
In related news, Chairman John C. Martin sold 100,000 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $84.73, for a total value of $8,473,000.00. Following the completion of the sale, the chairman now owns 4,119,727 shares of the company’s stock, valued at $349,064,468.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John F. Milligan sold 112,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,170,963 shares of the company’s stock, valued at approximately $101,803,523.22. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of the company. Pekin Singer Strauss Asset Management IL increased its stake in Gilead Sciences by 3.3% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 12,681 shares of the biopharmaceutical company’s stock valued at $1,283,000 after buying an additional 400 shares during the last quarter. Azimuth Capital Management LLC increased its stake in Gilead Sciences by 195.0% in the fourth quarter. Azimuth Capital Management LLC now owns 12,894 shares of the biopharmaceutical company’s stock valued at $1,305,000 after buying an additional 8,523 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in Gilead Sciences by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 19,871 shares of the biopharmaceutical company’s stock valued at $2,011,000 after buying an additional 369 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in shares of Gilead Sciences by 5.4% in the fourth quarter. Aviance Capital Partners LLC now owns 29,997 shares of the biopharmaceutical company’s stock valued at $3,035,000 after buying an additional 1,527 shares during the period. Finally, Sawtooth Asset Management Inc. boosted its stake in shares of Gilead Sciences by 521.2% in the fourth quarter. Sawtooth Asset Management Inc. now owns 31,037 shares of the biopharmaceutical company’s stock valued at $3,141,000 after buying an additional 26,041 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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