Gilead Sciences, Inc. (NASDAQ:GILD) Receives New Coverage from Analysts at Redburn Partners
A number of other research firms have also recently weighed in on GILD. BidaskClub raised Gilead Sciences from a sell rating to a hold rating in a research report on Monday. Robert W. Baird reaffirmed an outperform rating and set a $87.00 price objective on shares of Gilead Sciences in a research report on Tuesday. Leerink Swann reaffirmed a hold rating and set a $74.00 price objective on shares of Gilead Sciences in a research report on Tuesday. BMO Capital Markets reaffirmed a hold rating and set a $72.00 price objective on shares of Gilead Sciences in a research report on Friday, July 21st. Finally, Vetr raised Gilead Sciences from a buy rating to a strong-buy rating and set a $83.66 price objective for the company in a research report on Monday, June 26th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Gilead Sciences has an average rating of Buy and a consensus target price of $80.00.
Shares of Gilead Sciences (GILD) traded up 1.04% on Wednesday, reaching $74.96. The company had a trading volume of 13,870,379 shares. The company’s 50-day moving average price is $69.34 and its 200 day moving average price is $68.59. The firm has a market capitalization of $97.95 billion, a P/E ratio of 7.92 and a beta of 1.21. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $82.10. Gilead Sciences also saw unusually large options trading on Wednesday. Traders acquired 23,892 put options on the company. This is an increase of 241% compared to the average daily volume of 7,005 put options.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.45. Gilead Sciences had a return on equity of 76.64% and a net margin of 43.42%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the firm earned $3.08 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts expect that Gilead Sciences will post $8.42 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is currently 21.99%.
In related news, EVP Gregg H. Alton sold 5,000 shares of Gilead Sciences stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the transaction, the executive vice president now owns 102,988 shares in the company, valued at $7,318,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregg H. Alton sold 40,000 shares of Gilead Sciences stock in a transaction on Friday, July 21st. The shares were sold at an average price of $74.00, for a total value of $2,960,000.00. Following the completion of the transaction, the executive vice president now owns 137,488 shares in the company, valued at approximately $10,174,112. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,276 shares of company stock valued at $9,190,610. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GILD. Bank of New York Mellon Corp boosted its position in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock worth $2,076,368,000 after buying an additional 2,727,063 shares during the last quarter. Parnassus Investments CA boosted its position in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock worth $1,110,228,000 after buying an additional 4,556,901 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Gilead Sciences by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 14,317,385 shares of the biopharmaceutical company’s stock worth $1,025,373,000 after buying an additional 313,703 shares during the last quarter. Norges Bank purchased a new position in shares of Gilead Sciences during the fourth quarter worth $997,048,000. Finally, APG Asset Management N.V. boosted its position in shares of Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock worth $402,319,000 after buying an additional 849,741 shares during the last quarter. Hedge funds and other institutional investors own 74.05% of the company’s stock.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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