Traders Buy Shares of Gilead Sciences, Inc. (GILD) on Weakness After Insider Selling
Traders purchased shares of Gilead Sciences, Inc. (NASDAQ:GILD) on weakness during trading on Wednesday following insider selling activity. $137.11 million flowed into the stock on the tick-up and $87.12 million flowed out of the stock on the tick-down, for a money net flow of $49.99 million into the stock. Of all stocks tracked, Gilead Sciences had the 11th highest net in-flow for the day. Gilead Sciences traded down ($0.77) for the day and closed at $82.42Specifically, CFO Robin L. Washington sold 51,820 shares of the company’s 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 owns 43,352 shares in the company, valued at $3,684,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John C. Martin sold 73,333 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were 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 approximately $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.
A number of research analysts have issued reports on GILD shares. TheStreet raised Gilead Sciences from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Gilead Sciences in a research note on Tuesday, July 4th. Zacks Investment Research raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Monday, July 17th. Vetr cut Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $75.40 target price for the company. in a research note on Wednesday, June 21st. Finally, Deutsche Bank AG started coverage on Gilead Sciences in a research note on Friday, June 23rd. They issued a “buy” rating and a $79.00 target price for the company. Twelve analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $85.43.
The stock has a market cap of $109.06 billion, a P/E ratio of 9.07 and a beta of 1.14. The firm has a 50-day moving average price of $80.69 and a 200 day moving average price of $71.56.
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 analysts’ consensus estimates 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 analysts’ expectations of $6.35 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts expect that Gilead Sciences, Inc. will post $8.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 15th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.49%. Gilead Sciences’s payout ratio is 22.58%.
A number of hedge funds have recently modified their holdings of GILD. Parnassus Investments CA raised its holdings in Gilead Sciences by 37.4% during the 1st quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after acquiring an additional 4,556,901 shares during the period. Bank of New York Mellon Corp raised its holdings in Gilead Sciences by 9.8% during the 1st 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 acquiring an additional 2,727,063 shares during the period. Renaissance Technologies LLC raised its holdings in Gilead Sciences by 35.0% during the 2nd quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock valued at $736,667,000 after acquiring an additional 2,700,600 shares during the period. Vanguard Group Inc. raised its holdings in Gilead Sciences by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock valued at $6,571,355,000 after acquiring an additional 2,148,697 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Gilead Sciences by 50.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,191,622 shares of the biopharmaceutical company’s stock valued at $438,244,000 after acquiring an additional 2,062,886 shares during the period. 73.99% of the stock is currently owned by institutional investors and hedge funds.
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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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