Gilead Sciences, Inc. (GILD) Stock Rating Reaffirmed by Cowen and Company
Cowen and Company restated their outperform rating on shares of Gilead Sciences, Inc. (NASDAQ:GILD) in a research report released on Thursday. They currently have a $90.00 price target on the biopharmaceutical company’s stock.
Other research analysts have also recently issued reports about the stock. Jefferies Group LLC reaffirmed a hold rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Tuesday, July 11th. Vetr cut shares of Gilead Sciences from a strong-buy rating to a buy rating and set a $74.88 target price for the company. in a report on Tuesday, April 25th. Maxim Group reaffirmed a hold rating on shares of Gilead Sciences in a report on Wednesday, May 3rd. BMO Capital Markets reaffirmed an outperform rating and issued a $82.00 target price (up from $72.00) on shares of Gilead Sciences in a report on Thursday. Finally, Barclays PLC reaffirmed an overweight rating and issued a $85.00 target price on shares of Gilead Sciences in a report on Wednesday, May 3rd. Twelve research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $80.31.
Gilead Sciences (NASDAQ GILD) traded up 0.20% during midday trading on Thursday, reaching $76.09. The company had a trading volume of 7,698,981 shares. Gilead Sciences has a 1-year low of $63.76 and a 1-year high of $82.10. The stock has a market capitalization of $99.37 billion, a PE ratio of 8.26 and a beta of 1.20. The firm’s 50 day moving average is $69.98 and its 200 day moving average is $68.63.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, July 26th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.45. Gilead Sciences had a net margin of 42.90% and a return on equity of 66.07%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the company posted $3.08 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Gilead Sciences will post $8.72 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is presently 22.58%.
In related news, Director John Francis Cogan sold 9,943 shares of Gilead Sciences stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $67.25, for a total transaction of $668,666.75. Following the sale, the director now owns 47,562 shares of the company’s stock, valued at approximately $3,198,544.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregg H. Alton sold 40,000 shares of Gilead Sciences stock in a transaction on Friday, July 21st. The stock was sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the sale, the executive vice president now directly owns 137,488 shares in the company, valued at approximately $10,174,112. The disclosure for this sale can be found here. In the last three months, insiders sold 128,276 shares of company stock worth $9,190,610. Insiders own 1.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GILD. Norges Bank purchased a new stake in Gilead Sciences during the fourth quarter valued at about $997,048,000. Parnassus Investments CA increased its stake in Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares during the period. Bank of New York Mellon Corp increased its stake in Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after buying an additional 2,727,063 shares during the period. Numeric Investors LLC increased its stake in Gilead Sciences by 173.5% in the fourth quarter. Numeric Investors LLC now owns 2,820,505 shares of the biopharmaceutical company’s stock valued at $201,976,000 after buying an additional 1,789,101 shares during the period. Finally, Harbour Capital Advisors LLC increased its stake in Gilead Sciences by 6,595.9% in the second quarter. Harbour Capital Advisors LLC now owns 1,221,804 shares of the biopharmaceutical company’s stock valued at $17,262,000 after buying an additional 1,203,557 shares during the period. 73.99% 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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