Gilead Sciences, Inc. (NASDAQ:GILD) Receives New Coverage from Analysts at Redburn Partners
Redburn Partners initiated coverage on shares of Gilead Sciences, Inc. (NASDAQ:GILD) in a research report sent to investors on Wednesday. The firm issued a buy rating on the biopharmaceutical company’s stock.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC restated a hold rating and set a $80.00 price target on shares of Gilead Sciences in a report on Tuesday, July 11th. Vetr lowered shares of Gilead Sciences from a strong-buy rating to a buy rating and set a $74.88 price target on the stock. in a report on Tuesday, April 25th. Maxim Group restated a hold rating on shares of Gilead Sciences in a report on Wednesday, May 3rd. Barclays PLC restated an overweight rating and set a $85.00 price target on shares of Gilead Sciences in a report on Wednesday, May 3rd. Finally, BMO Capital Markets restated a hold rating and set a $76.00 price target (up previously from $75.00) on shares of Gilead Sciences in a report on Wednesday, May 3rd. Twelve analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $80.31.
Shares of Gilead Sciences (NASDAQ:GILD) traded up 1.31% during mid-day trading on Wednesday, reaching $75.94. 8,954,646 shares of the company were exchanged. The firm has a market capitalization of $99.18 billion, a PE ratio of 8.25 and a beta of 1.21. Gilead Sciences has a 12 month low of $63.76 and a 12 month high of $82.10. The company’s 50 day moving average price is $69.98 and its 200 day moving average price is $68.63.
Gilead Sciences (NASDAQ:GILD) last released its quarterly 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 business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the previous year, the business earned $3.08 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. Equities analysts anticipate that Gilead Sciences will post $8.72 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is currently 22.58%.
In related news, EVP Gregg H. Alton sold 40,000 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $74.00, for a total transaction of $2,960,000.00. Following the completion of the transaction, the executive vice president now directly owns 137,488 shares in the company, valued at approximately $10,174,112. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Francis Cogan sold 9,943 shares of the company’s 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 transaction, the director now owns 47,562 shares of the company’s stock, valued at $3,198,544.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,276 shares of company stock valued at $9,190,610. Corporate insiders own 1.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in GILD. Bank of New York Mellon Corp boosted its position 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 last quarter. Parnassus Investments CA boosted its position 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 last quarter. Franklin Resources Inc. boosted its position in Gilead Sciences by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 14,317,385 shares of the biopharmaceutical company’s stock valued at $1,025,373,000 after buying an additional 313,703 shares during the last quarter. Norges Bank bought a new position in Gilead Sciences during the fourth quarter valued at approximately $997,048,000. Finally, APG Asset Management N.V. boosted its position in Gilead Sciences by 16.7% in the first quarter. APG Asset Management N.V. now owns 5,923,426 shares of the biopharmaceutical company’s stock valued at $402,319,000 after buying an additional 849,741 shares during the last quarter. Hedge funds and other institutional investors own 74.05% of the company’s stock.
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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