Investors Buy Gilead Sciences Inc. (GILD) on Weakness
Traders purchased shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading hours on Tuesday. $176.99 million flowed into the stock on the tick-up and $123.77 million flowed out of the stock on the tick-down, for a money net flow of $53.22 million into the stock. Of all companies tracked, Gilead Sciences had the 6th highest net in-flow for the day. Gilead Sciences traded down ($0.41) for the day and closed at $79.33
A number of research firms have weighed in on GILD. Barclays PLC reiterated an “overweight” rating on shares of Gilead Sciences in a research note on Thursday, July 28th. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Vetr upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $107.61 price target for the company in a research note on Tuesday, April 26th. Zacks Investment Research lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, Morgan Stanley cut their price target on Gilead Sciences from $107.00 to $103.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $107.37.
The company has a 50-day moving average price of $83.31 and a 200 day moving average price of $87.83. The stock has a market capitalization of $105.59 billion and a PE ratio of 6.96.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.06. During the same quarter last year, the business posted $3.15 EPS. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. The firm’s revenue was down 5.7% compared to the same quarter last year. Analysts expect that Gilead Sciences Inc. will post $11.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be issued a $0.47 dividend. The ex-dividend date of this dividend 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 Gilead Sciences stock in a transaction on Monday, June 6th. The shares were sold at an average price of $86.94, for a total value of $9,737,280.00. Following the transaction, the chief executive officer now owns 1,170,963 shares in the company, valued at approximately $101,803,523.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul Rutherford Carter sold 2,000 shares of Gilead Sciences stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $87.02, for a total transaction of $174,040.00. Following the completion of the transaction, the executive vice president now owns 63,122 shares in the company, valued at approximately $5,492,876.44. The disclosure for this sale can be found here.
Several institutional investors recently made changes to their positions in the stock. Platinum Investment Management Ltd. bought a new position in shares of Gilead Sciences during the fourth quarter worth $1,315,000. Braver Wealth Management LLC raised its position in shares of Gilead Sciences by 6.9% in the fourth quarter. Braver Wealth Management LLC now owns 44,199 shares of the biopharmaceutical company’s stock worth $4,472,000 after buying an additional 2,868 shares during the period. Capital Counsel LLC NY raised its position in shares of Gilead Sciences by 0.3% in the fourth quarter. Capital Counsel LLC NY now owns 86,935 shares of the biopharmaceutical company’s stock worth $8,797,000 after buying an additional 280 shares during the period. Oarsman Capital Inc. raised its position in shares of Gilead Sciences by 1.0% in the fourth quarter. Oarsman Capital Inc. now owns 21,341 shares of the biopharmaceutical company’s stock worth $2,159,000 after buying an additional 205 shares during the period. Finally, Airain ltd raised its position in shares of Gilead Sciences by 40.5% in the fourth quarter. Airain ltd now owns 155,921 shares of the biopharmaceutical company’s stock worth $15,778,000 after buying an additional 44,970 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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