Gilead Sciences Inc. (GILD) Sets New 12-Month Low After Insider Selling
Gilead Sciences Inc. (NASDAQ:GILD) reached a new 52-week low during mid-day trading on Thursday following insider selling activity. The company traded as low as $76.32 and last traded at $76.44, with a volume of 5,254,565 shares changing hands. The stock had previously closed at $77.57.
Specifically, EVP Paul Rutherford Carter sold 2,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $79.81, for a total transaction of $159,620.00. Following the transaction, the executive vice president now owns 64,122 shares in the company, valued at approximately $5,117,576.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John C. Martin sold 100,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $80.50, for a total transaction of $8,050,000.00. Following the transaction, the insider now owns 4,119,727 shares in the company, valued at approximately $331,638,023.50. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Several brokerages recently issued reports on GILD. Barclays PLC reiterated an “overweight” rating on shares of Gilead Sciences in a research report on Thursday, July 28th. Royal Bank Of Canada upped their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America Corp. reissued a “neutral” rating and set a $100.00 price objective on shares of Gilead Sciences in a report on Sunday, September 25th. Zacks Investment Research cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Finally, Leerink Swann set a $112.00 price objective on Gilead Sciences and gave the stock a “buy” rating in a report on Thursday, September 22nd. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and an average target price of $104.71.
The firm’s 50 day moving average price is $79.23 and its 200-day moving average price is $85.24. The firm has a market cap of $100.94 billion, a price-to-earnings ratio of 6.7133 and a beta of 1.10.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The firm earned $7.78 billion during the quarter, compared to the consensus estimate of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.15 earnings per share. On average, equities analysts expect that Gilead Sciences Inc. will post $11.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were issued a dividend of $0.47 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. Gilead Sciences’s dividend payout ratio is 16.56%.
Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in shares of Gilead Sciences during the second quarter valued at about $427,750,000. Capital World Investors boosted its position in shares of Gilead Sciences by 28.3% in the second quarter. Capital World Investors now owns 15,318,948 shares of the biopharmaceutical company’s stock valued at $1,277,907,000 after buying an additional 3,380,000 shares during the last quarter. Investec Asset Management LTD bought a new position in shares of Gilead Sciences during the first quarter valued at about $280,342,000. Parnassus Investments CA boosted its position in shares of Gilead Sciences by 45.4% in the second quarter. Parnassus Investments CA now owns 8,460,484 shares of the biopharmaceutical company’s stock valued at $705,774,000 after buying an additional 2,640,284 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Gilead Sciences during the first quarter valued at about $180,268,000. Hedge funds and other institutional investors own 77.94% of the company’s stock.
About Gilead Sciences
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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