Truist Financial downgraded shares of Gilead Sciences (NASDAQ:GILD – Free Report) from a buy rating to a hold rating in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage currently has $82.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $91.00.
Several other brokerages also recently weighed in on GILD. Barclays cut their price target on Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a research report on Monday, February 12th. Wells Fargo & Company cut their price target on Gilead Sciences from $90.00 to $84.00 and set an equal weight rating on the stock in a research report on Wednesday, February 7th. Royal Bank of Canada cut their price target on Gilead Sciences from $76.00 to $75.00 and set a sector perform rating on the stock in a research report on Wednesday, February 14th. Oppenheimer cut their price target on Gilead Sciences from $115.00 to $105.00 and set an outperform rating on the stock in a research report on Monday, February 12th. Finally, Cantor Fitzgerald lowered their target price on shares of Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of Hold and an average target price of $85.86.
Read Our Latest Research Report on GILD
Gilead Sciences Price Performance
NASDAQ GILD opened at $72.78 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.46 and a quick ratio of 1.16. The stock’s fifty day moving average price is $79.46 and its 200 day moving average price is $77.96. Gilead Sciences has a 1 year low of $71.37 and a 1 year high of $87.86. The company has a market cap of $90.69 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.91 and a beta of 0.20.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the company earned $1.67 earnings per share. Gilead Sciences’s revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Gilead Sciences will post 7.07 earnings per share for the current year.
Gilead Sciences Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.23%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio (DPR) is currently 68.44%.
Insider Transactions at Gilead Sciences
In related news, CFO Andrew D. Dickinson sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $85.78, for a total value of $428,900.00. Following the completion of the sale, the chief financial officer now owns 101,534 shares in the company, valued at approximately $8,709,586.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 8,242 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $85.23, for a total value of $702,465.66. Following the completion of the transaction, the insider now owns 82,729 shares in the company, valued at $7,050,992.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $85.78, for a total transaction of $428,900.00. Following the completion of the transaction, the chief financial officer now owns 101,534 shares of the company’s stock, valued at approximately $8,709,586.52. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
Hedge Funds Weigh In On Gilead Sciences
Several institutional investors have recently modified their holdings of GILD. Cetera Investment Advisers grew its stake in shares of Gilead Sciences by 9.2% in the first quarter. Cetera Investment Advisers now owns 57,967 shares of the biopharmaceutical company’s stock worth $3,446,000 after acquiring an additional 4,877 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Gilead Sciences by 3.9% during the 1st quarter. Baird Financial Group Inc. now owns 448,409 shares of the biopharmaceutical company’s stock worth $26,660,000 after purchasing an additional 16,643 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Gilead Sciences by 44.3% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 2,654 shares during the last quarter. Donaldson Capital Management LLC lifted its position in shares of Gilead Sciences by 12.5% during the 1st quarter. Donaldson Capital Management LLC now owns 5,763 shares of the biopharmaceutical company’s stock worth $343,000 after purchasing an additional 641 shares during the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of Gilead Sciences during the 1st quarter worth $2,304,000. Institutional investors and hedge funds own 82.33% of the company’s stock.
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.
Further Reading
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Source: americanbankingnews.com
