Gilead Sciences Inc. (NASDAQ:GILD)‘s stock had its “neutral” rating reaffirmed by research analysts at Bank of America Corp. in a research report issued to clients and investors on Sunday. They presently have a $100.00 price target on the biopharmaceutical company’s stock. Bank of America Corp.’s target price suggests a potential upside of 22.90% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. Jefferies Group reiterated a “hold” rating and set a $96.00 price target on shares of Gilead Sciences in a research report on Sunday, June 12th. Morgan Stanley reiterated a “hold” rating on shares of Gilead Sciences in a research report on Sunday, May 29th. Piper Jaffray Cos. set a $108.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research report on Sunday, August 21st. Gabelli reiterated a “buy” rating on shares of Gilead Sciences in a research report on Friday. Finally, Argus cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $88.00 to $81.00 in a research report on Friday, July 29th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Gilead Sciences has a consensus rating of “Buy” and a consensus target price of $105.26.
Gilead Sciences (NASDAQ:GILD) traded down 0.18% during midday trading on Friday, reaching $81.37. 7,534,538 shares of the company’s stock traded hands. The firm has a market cap of $107.38 billion, a PE ratio of 7.14 and a beta of 1.06. The firm’s 50-day moving average is $79.46 and its 200 day moving average is $85.89. Gilead Sciences has a 52-week low of $76.67 and a 52-week high of $111.11.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.06. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The company had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.80 billion. During the same quarter in the previous year, the company earned $3.15 earnings per share. Gilead Sciences’s quarterly revenue was down 5.7% on a year-over-year basis. Equities research analysts expect that Gilead Sciences will post $11.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 16th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. Gilead Sciences’s dividend payout ratio is 16.56%.
In other Gilead Sciences news, insider John C. Martin sold 100,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $77.48, for a total transaction of $7,748,000.00. Following the completion of the transaction, the insider now owns 3,287,810 shares in the company, valued at $254,739,518.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John F. Milligan sold 112,000 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $84.33, for a total transaction of $9,444,960.00. Following the transaction, the chief executive officer now owns 1,170,963 shares of the company’s stock, valued at approximately $98,747,309.79. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in GILD. Lawson Kroeker Investment Management Inc. NE acquired a new position in Gilead Sciences during the first quarter valued at approximately $6,835,000. Franklin Street Advisors Inc. NC raised its stake in Gilead Sciences by 6.2% in the first quarter. Franklin Street Advisors Inc. NC now owns 217,411 shares of the biopharmaceutical company’s stock valued at $19,971,000 after buying an additional 12,758 shares during the period. Capital Asset Advisory Services LLC purchased a new stake in Gilead Sciences during the first quarter valued at about $1,690,000. Banced Corp raised its stake in Gilead Sciences by 20.5% in the first quarter. Banced Corp now owns 15,179 shares of the biopharmaceutical company’s stock valued at $1,395,000 after buying an additional 2,583 shares during the period. Finally, Webster Bank N. A. raised its stake in Gilead Sciences by 6.8% in the first quarter. Webster Bank N. A. now owns 26,811 shares of the biopharmaceutical company’s stock valued at $2,463,000 after buying an additional 1,707 shares during the period. Institutional investors and hedge funds own 77.94% of the company’s stock.
About Gilead Sciences
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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