Gilead Sciences, Inc. (GILD) PT Lowered to $86.00 at Bank of America Corporation
Gilead Sciences, Inc. (NASDAQ:GILD) had its price target lowered by Bank of America Corporation from $87.00 to $86.00 in a research note published on Wednesday. Bank of America Corporation currently has a neutral rating on the biopharmaceutical company’s stock.
Several other equities research analysts have also weighed in on GILD. BidaskClub lowered Gilead Sciences from a buy rating to a hold rating in a report on Wednesday, August 9th. Mizuho reaffirmed a buy rating on shares of Gilead Sciences in a research report on Friday, September 29th. Deutsche Bank AG reaffirmed a buy rating and issued a $81.00 price target (up from $79.00) on shares of Gilead Sciences in a research report on Thursday, July 27th. Leerink Swann reaffirmed a hold rating and issued a $74.00 price target on shares of Gilead Sciences in a research report on Tuesday, July 25th. Finally, Cowen and Company reaffirmed an outperform rating and issued a $90.00 price target on shares of Gilead Sciences in a research report on Thursday, July 27th. Twelve equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $85.66.
Shares of Gilead Sciences (GILD) traded down 1.64% during mid-day trading on Wednesday, reaching $82.14. 5,797,031 shares of the company’s stock traded hands. Gilead Sciences has a 1-year low of $63.76 and a 1-year high of $86.27. The company has a market capitalization of $107.27 billion, a P/E ratio of 8.92 and a beta of 1.14. The firm has a 50-day moving average price of $80.97 and a 200-day moving average price of $71.66.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the company earned $3.08 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that Gilead Sciences will post $8.75 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Friday, September 15th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.53%. Gilead Sciences’s dividend payout ratio is presently 22.58%.
In other Gilead Sciences news, CFO Robin L. Washington sold 51,820 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $85.00, for a total value of $4,404,700.00. Following the completion of the sale, the chief financial officer now directly owns 43,352 shares in the company, valued at $3,684,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John C. Martin sold 73,333 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $75.86, for a total value of $5,563,041.38. Following the completion of the sale, the insider now owns 3,199,969 shares of the company’s stock, valued at $242,749,648.34. The disclosure for this sale can be found here. Insiders sold 486,819 shares of company stock valued at $39,298,919 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Gilead Sciences by 583.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,640 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 1,400 shares in the last quarter. Dubuque Bank & Trust Co. increased its holdings in shares of Gilead Sciences by 19.4% in the first quarter. Dubuque Bank & Trust Co. now owns 1,642 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 267 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Gilead Sciences by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,656 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 144 shares in the last quarter. Webster Bank N. A. increased its holdings in shares of Gilead Sciences by 51.7% in the first quarter. Webster Bank N. A. now owns 1,831 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 624 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new stake in shares of Gilead Sciences in the first quarter worth about $143,000. Institutional investors own 73.99% of the company’s stock.
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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