Traders Buy Gilead Sciences, Inc. (GILD) on Weakness
Investors bought shares of Gilead Sciences, Inc. (NASDAQ:GILD) on weakness during trading hours on Tuesday. $137.23 million flowed into the stock on the tick-up and $117.32 million flowed out of the stock on the tick-down, for a money net flow of $19.91 million into the stock. Of all stocks tracked, Gilead Sciences had the 13th highest net in-flow for the day. Gilead Sciences traded down ($0.33) for the day and closed at $83.19
GILD has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Monday, August 28th. Vetr upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $89.27 price target on the stock in a report on Wednesday, September 6th. Maxim Group restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, July 27th. ValuEngine lowered shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 13th. Finally, Bank of America Corporation cut their price target on shares of Gilead Sciences from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $85.36.
The company has a market capitalization of $107.63 billion, a PE ratio of 8.95 and a beta of 1.14. The firm’s 50 day moving average price is $80.40 and its 200 day moving average price is $71.48.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, July 26th. The biopharmaceutical company reported $2.56 EPS for the quarter, topping 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 firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the business posted $3.08 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, analysts predict that Gilead Sciences, Inc. will post $8.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 15th were given a dividend of $0.52 per share. 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 2.52%. Gilead Sciences’s dividend payout ratio (DPR) is 22.58%.
In other Gilead Sciences news, CFO Robin L. Washington sold 51,820 shares of Gilead Sciences stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $85.00, for a total transaction of $4,404,700.00. Following the completion of the transaction, the chief financial officer now directly owns 43,352 shares of the company’s stock, valued at $3,684,920. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John C. Martin sold 73,333 shares of Gilead Sciences stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $75.86, for a total transaction of $5,563,041.38. Following the transaction, the insider now directly 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. Over the last ninety days, insiders have sold 486,819 shares of company stock valued at $39,298,919. Company insiders own 1.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Keel Point LLC boosted its position in Gilead Sciences by 0.4% during the first quarter. Keel Point LLC now owns 3,111 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 11 shares during the period. Paradigm Financial Advisors LLC boosted its position in shares of Gilead Sciences by 0.3% in the second quarter. Paradigm Financial Advisors LLC now owns 8,723 shares of the biopharmaceutical company’s stock valued at $617,000 after acquiring an additional 26 shares during the period. West Oak Capital LLC boosted its position in shares of Gilead Sciences by 0.7% in the second quarter. West Oak Capital LLC now owns 4,666 shares of the biopharmaceutical company’s stock valued at $330,000 after acquiring an additional 32 shares during the period. First Heartland Consultants Inc. boosted its position in shares of Gilead Sciences by 0.4% in the second quarter. First Heartland Consultants Inc. now owns 8,927 shares of the biopharmaceutical company’s stock valued at $632,000 after acquiring an additional 39 shares during the period. Finally, Princeton Portfolio Strategies Group LLC boosted its position in shares of Gilead Sciences by 0.4% in the second quarter. Princeton Portfolio Strategies Group LLC now owns 9,766 shares of the biopharmaceutical company’s stock valued at $691,000 after acquiring an additional 41 shares during the period. 73.99% of the stock is 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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