Traders Sell Shares of Gilead Sciences, Inc. (GILD) on Strength (GILD)
Traders sold shares of Gilead Sciences, Inc. (NASDAQ:GILD) on strength during trading hours on Monday. $44.75 million flowed into the stock on the tick-up and $88.62 million flowed out of the stock on the tick-down, for a money net flow of $43.87 million out of the stock. Of all equities tracked, Gilead Sciences had the 10th highest net out-flow for the day. Gilead Sciences traded up $0.49 for the day and closed at $72.60
Several research analysts have commented on GILD shares. Vetr downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $74.88 price objective on the stock. in a report on Tuesday, April 25th. Stifel Nicolaus restated a “buy” rating and set a $87.00 price objective on shares of Gilead Sciences in a report on Monday, April 24th. Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Tuesday, May 2nd. Gabelli restated a “buy” rating and set a $85.00 price objective on shares of Gilead Sciences in a report on Wednesday, May 3rd. Finally, Deutsche Bank AG started coverage on Gilead Sciences in a report on Friday, June 23rd. They set a “buy” rating and a $79.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $80.64.
The company has a market capitalization of $94.81 billion, a price-to-earnings ratio of 7.89 and a beta of 1.21. The stock’s 50-day moving average is $72.61 and its 200 day moving average is $68.83.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a return on equity of 66.07% and a net margin of 42.90%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter last year, the company posted $3.08 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. Equities analysts expect that Gilead Sciences, Inc. will post $8.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is currently 22.58%.
In related news, insider John C. Martin sold 73,333 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $75.86, for a total value of $5,563,041.38. Following the completion of the sale, the insider now owns 3,199,969 shares in the company, valued at $242,749,648.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregg H. Alton sold 40,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the completion of the sale, the executive vice president now owns 137,488 shares of the company’s stock, valued at approximately $10,174,112. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,666 shares of company stock worth $15,223,184. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Parnassus Investments CA increased its stake 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. Bank of New York Mellon Corp increased its stake 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. Renaissance Technologies LLC increased its stake in shares of Gilead Sciences by 35.0% in the second quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock worth $736,667,000 after buying an additional 2,700,600 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Gilead Sciences by 2.4% in the second quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock worth $6,571,355,000 after buying an additional 2,148,697 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Gilead Sciences by 50.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,191,622 shares of the biopharmaceutical company’s stock worth $438,244,000 after buying an additional 2,062,886 shares during the last quarter. Hedge funds and other institutional investors own 74.02% 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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