Traders Buy Shares of Gilead Sciences, Inc. (GILD) on Weakness
Traders purchased shares of Gilead Sciences, Inc. (NASDAQ:GILD) on weakness during trading on Thursday. $163.55 million flowed into the stock on the tick-up and $129.63 million flowed out of the stock on the tick-down, for a money net flow of $33.92 million into the stock. Of all stocks tracked, Gilead Sciences had the 20th highest net in-flow for the day. Gilead Sciences traded down ($0.87) for the day and closed at $82.29
GILD has been the subject of a number of recent analyst reports. TheStreet upgraded Gilead Sciences from a “c+” rating to a “b-” rating in a report on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $82.00 price objective on shares of Gilead Sciences in a report on Tuesday, July 4th. Vetr downgraded Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $75.40 price objective for the company. in a report on Wednesday, June 21st. Deutsche Bank AG initiated coverage on Gilead Sciences in a report on Friday, June 23rd. They issued a “buy” rating and a $79.00 price objective for the company. Finally, Zacks Investment Research upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Monday, July 17th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $83.79.
The firm has a market cap of $107.56 billion, a PE ratio of 8.95 and a beta of 1.19. The stock’s 50 day moving average is $77.16 and its 200-day moving average is $70.20.
Gilead Sciences (NASDAQ:GILD) last announced its earnings results 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 66.07% and a net margin of 42.90%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the previous year, the business earned $3.08 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts forecast that Gilead Sciences, Inc. will post $8.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be paid a $0.52 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.53%. Gilead Sciences’s payout ratio is presently 22.58%.
In other news, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $71.00, for a total value of $5,206,643.00. Following the transaction, the insider now owns 3,199,969 shares in the company, valued at approximately $227,197,799. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James R. Meyers sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $83.19, for a total value of $4,991,400.00. Following the completion of the transaction, the executive vice president now owns 62,715 shares in the company, valued at approximately $5,217,260.85. The disclosure for this sale can be found here. Insiders sold a total of 466,819 shares of company stock worth $36,740,240 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in GILD. Parnassus Investments CA boosted its stake in shares of Gilead Sciences by 37.4% in the 1st 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 boosted its stake in shares of Gilead Sciences by 9.8% in the 1st 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 boosted its stake in shares of Gilead Sciences by 35.0% in the 2nd 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. lifted its stake in Gilead Sciences by 2.4% in the second quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock valued at $6,571,355,000 after purchasing an additional 2,148,697 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in 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 valued at $438,244,000 after purchasing an additional 2,062,886 shares during the last quarter. Hedge funds and other institutional investors own 74.05% of the company’s stock.
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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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