Barclays Lowers Gilead Sciences (NASDAQ:GILD) Price Target to $76.00

Gilead Sciences (NASDAQ:GILD) had its price objective lowered by Barclays from $80.00 to $76.00 in a report released on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently issued reports on GILD. HSBC raised shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price objective on the stock in a research note on Wednesday, April 24th. Cantor Fitzgerald dropped their price target on Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a report on Wednesday, February 7th. TD Cowen reduced their price objective on Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research note on Friday, April 26th. Morgan Stanley cut their target price on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Finally, Wells Fargo & Company decreased their price target on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating for the company in a research report on Monday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $83.69.

Gilead Sciences Stock Performance

GILD opened at $65.51 on Monday. The business has a 50 day moving average price of $70.87 and a two-hundred day moving average price of $76.01. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72. The company has a market capitalization of $81.57 billion, a price-to-earnings ratio of 181.97, a price-to-earnings-growth ratio of 1.30 and a beta of 0.19. Gilead Sciences has a 1-year low of $64.63 and a 1-year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Research analysts predict that Gilead Sciences will post 3.79 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.70%. Gilead Sciences’s dividend payout ratio is 855.56%.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in Gilead Sciences during the third quarter valued at $26,000. Tompkins Financial Corp raised its stake in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth about $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Gilead Sciences during the 4th quarter valued at about $29,000. Finally, Palisade Asset Management LLC bought a new stake in shares of Gilead Sciences in the 1st quarter valued at approximately $29,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.