Wells Fargo & Co upgraded shares of Gilead Sciences (NASDAQ:GILD) from a market perform rating to an outperform rating in a research note issued to investors on Monday, 24/7 WallStreet reports. They currently have $88.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $68.00.
A number of other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a report on Monday, July 8th. Cantor Fitzgerald restated a buy rating and set a $37.00 target price on shares of Vocera Communications in a report on Thursday, April 25th. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a report on Friday, April 26th. They set an outperform rating and a $82.00 target price on the stock. Cowen set a $150.00 target price on shares of Tesla and gave the stock a sell rating in a report on Friday, May 3rd. Finally, Goldman Sachs Group set a $27.00 target price on shares of Melco Resorts & Entertainment and gave the stock a buy rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $80.99.
Shares of GILD opened at $66.92 on Monday. The firm has a market capitalization of $85.34 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 3.21 and a beta of 1.12. Gilead Sciences has a 1-year low of $60.32 and a 1-year high of $79.61. The stock’s fifty day moving average price is $66.71. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.53 and a current ratio of 3.62.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.23. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.29 billion. Gilead Sciences had a net margin of 26.40% and a return on equity of 37.98%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. On average, analysts predict that Gilead Sciences will post 6.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.52 annualized dividend and a dividend yield of 3.77%. Gilead Sciences’s dividend payout ratio is currently 40.98%.
In related news, Director John Francis Cogan sold 2,700 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $62.61, for a total value of $169,047.00. Following the transaction, the director now directly owns 57,560 shares in the company, valued at $3,603,831.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brett A. Pletcher sold 5,816 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total transaction of $399,850.00. Following the completion of the transaction, the executive vice president now owns 27,198 shares in the company, valued at $1,869,862.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,384 shares of company stock worth $755,002. Corporate insiders own 0.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GILD. Norges Bank bought a new stake in Gilead Sciences during the fourth quarter worth about $798,882,000. Parnassus Investments CA lifted its position in Gilead Sciences by 21.2% during the first quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock worth $849,976,000 after purchasing an additional 2,288,767 shares during the period. Miller Howard Investments Inc. NY bought a new stake in Gilead Sciences during the second quarter worth about $93,386,000. Two Sigma Advisers LP lifted its position in Gilead Sciences by 1,406.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,104,840 shares of the biopharmaceutical company’s stock worth $69,108,000 after purchasing an additional 1,031,502 shares during the period. Finally, Geode Capital Management LLC lifted its position in Gilead Sciences by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 16,867,065 shares of the biopharmaceutical company’s stock worth $1,053,332,000 after purchasing an additional 835,915 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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