Credit Suisse Group Reiterates “$80.00” Price Target for Gilead Sciences (GILD)
Credit Suisse Group set a $80.00 price target on Gilead Sciences (NASDAQ:GILD) in a research note issued to investors on Wednesday. The firm currently has a hold rating on the biopharmaceutical company’s stock.
A number of other equities analysts also recently weighed in on GILD. Wells Fargo & Co upped their target price on Gilead Sciences from $73.00 to $81.00 and gave the company a market perform rating in a report on Wednesday, September 6th. Vetr upgraded Gilead Sciences from a hold rating to a buy rating and set a $89.27 target price on the stock in a report on Wednesday, September 6th. Berenberg Bank reiterated a buy rating and issued a $96.00 target price (up previously from $86.00) on shares of Gilead Sciences in a report on Wednesday, September 6th. ValuEngine upgraded Gilead Sciences from a buy rating to a strong-buy rating in a report on Thursday, September 7th. Finally, Zacks Investment Research downgraded Gilead Sciences from a buy rating to a hold rating in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $85.03.
Gilead Sciences (NASDAQ GILD) opened at $74.52 on Wednesday. The firm has a market capitalization of $96,533.28, a PE ratio of 8.49, a PEG ratio of -1.57 and a beta of 1.13. Gilead Sciences has a twelve month low of $63.76 and a twelve month high of $86.27. The company has a quick ratio of 3.56, a current ratio of 3.68 and a debt-to-equity ratio of 1.10.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.14. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.40 billion. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The firm’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 EPS. sell-side analysts forecast that Gilead Sciences will post 8.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.79%. Gilead Sciences’s dividend payout ratio is 23.69%.
In related news, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $74.82, for a total value of $1,122,300.00. Following the completion of the transaction, the executive vice president now directly owns 77,363 shares in the company, valued at $5,788,299.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Milligan sold 220,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $72.88, for a total value of $16,033,600.00. The disclosure for this sale can be found here. Insiders sold 461,666 shares of company stock valued at $34,072,567 over the last three months. 1.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of GILD. Spears Abacus Advisors LLC raised its stake in shares of Gilead Sciences by 96.8% in the first quarter. Spears Abacus Advisors LLC now owns 320,770 shares of the biopharmaceutical company’s stock valued at $21,787,000 after purchasing an additional 157,752 shares in the last quarter. Glenview Trust Co raised its stake in shares of Gilead Sciences by 1.1% in the first quarter. Glenview Trust Co now owns 123,204 shares of the biopharmaceutical company’s stock valued at $8,368,000 after purchasing an additional 1,375 shares in the last quarter. Herndon Capital Management LLC raised its stake in Gilead Sciences by 31.1% during the first quarter. Herndon Capital Management LLC now owns 313,915 shares of the biopharmaceutical company’s stock worth $21,321,000 after acquiring an additional 74,417 shares in the last quarter. ARS Investment Partners LLC raised its stake in Gilead Sciences by 0.9% during the first quarter. ARS Investment Partners LLC now owns 5,610 shares of the biopharmaceutical company’s stock worth $381,000 after acquiring an additional 50 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Gilead Sciences during the first quarter worth $2,792,000. Institutional investors and hedge funds own 75.94% of the company’s stock.
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Gilead Sciences Company Profile
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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