Jefferies Group LLC reaffirmed their buy rating on shares of Gilead Sciences, Inc. (NASDAQ:GILD) in a research note released on Thursday morning. They currently have a $82.00 target price on the biopharmaceutical company’s stock.
A number of other equities research analysts have also recently weighed in on GILD. Piper Jaffray Companies restated an overweight rating on shares of Gilead Sciences in a report on Thursday, February 16th. Robert W. Baird reiterated an outperform rating and set a $100.00 price target on shares of Gilead Sciences in a report on Wednesday, December 21st. BMO Capital Markets reiterated a market perform rating and set a $88.00 price target on shares of Gilead Sciences in a report on Friday, January 13th. Cowen and Company set a $100.00 price target on shares of Gilead Sciences and gave the company a buy rating in a report on Monday, February 6th. Finally, Zacks Investment Research cut shares of Gilead Sciences from a hold rating to a sell rating in a report on Monday, February 13th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $83.86.
Gilead Sciences (NASDAQ:GILD) traded down 0.86% during trading on Thursday, hitting $65.93. The stock had a trading volume of 6,987,062 shares. Gilead Sciences has a 1-year low of $65.38 and a 1-year high of $103.10. The firm has a market capitalization of $86.17 billion, a PE ratio of 6.63 and a beta of 1.11. The firm has a 50 day moving average price of $67.70 and a 200-day moving average price of $71.79.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 7th. The biopharmaceutical company reported $2.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.09. The business had revenue of $7.30 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Gilead Sciences had a net margin of 44.43% and a return on equity of 92.36%. The business’s revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.32 earnings per share. On average, equities research analysts expect that Gilead Sciences will post $8.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $2.08 annualized dividend and a dividend yield of 3.15%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.47. Gilead Sciences’s payout ratio is currently 18.91%.
In other news, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $67.18, for a total value of $4,926,510.94. Following the completion of the sale, the insider now owns 3,199,969 shares in the company, valued at approximately $214,973,917.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $67.48, for a total transaction of $337,400.00. Following the completion of the sale, the executive vice president now owns 117,988 shares of the company’s stock, valued at approximately $7,961,830.24. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GILD. Norges Bank purchased a new position in shares of Gilead Sciences during the fourth quarter worth about $997,048,000. The Manufacturers Life Insurance Company purchased a new position in shares of Gilead Sciences during the third quarter worth about $271,588,000. Boston Partners increased its position in shares of Gilead Sciences by 51.7% in the third quarter. Boston Partners now owns 9,855,682 shares of the biopharmaceutical company’s stock worth $779,781,000 after buying an additional 3,358,289 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Gilead Sciences by 170.9% in the fourth quarter. Renaissance Technologies LLC now owns 5,274,948 shares of the biopharmaceutical company’s stock worth $377,739,000 after buying an additional 3,327,900 shares during the last quarter. Finally, State Street Corp increased its position in shares of Gilead Sciences by 4.5% in the fourth quarter. State Street Corp now owns 60,448,831 shares of the biopharmaceutical company’s stock worth $4,328,739,000 after buying an additional 2,587,072 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
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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