Gilead Sciences (NASDAQ:GILD) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Gilead Sciences (NASDAQ:GILD) in a research report report published on Friday morning, Benzinga reports. They currently have a $70.00 price target on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the stock. Raymond James upgraded shares of Gilead Sciences from a market perform rating to an outperform rating and set a $93.00 target price for the company in a research note on Monday, July 8th. Morgan Stanley reduced their price target on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research report on Friday, April 26th. HSBC raised shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price target on the stock in a report on Wednesday, April 24th. Barclays reduced their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an equal weight rating for the company in a research note on Monday, April 29th. Finally, TD Cowen lowered their price objective on Gilead Sciences from $90.00 to $85.00 and set a buy rating on the stock in a research report on Friday, April 26th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Gilead Sciences currently has a consensus rating of Hold and an average target price of $81.88.

Gilead Sciences Stock Performance

NASDAQ GILD traded down $1.93 during trading hours on Friday, reaching $73.66. 9,545,056 shares of the company were exchanged, compared to its average volume of 7,396,841. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $91.77 billion, a P/E ratio of 204.61, a P/E/G ratio of 3.37 and a beta of 0.18. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $87.86. The business’s 50 day simple moving average is $69.81 and its 200-day simple moving average is $70.45.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. On average, equities research analysts expect that Gilead Sciences will post 3.73 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of hedge funds have recently modified their holdings of the company. Wealth Alliance increased its holdings in Gilead Sciences by 40.3% during the 2nd quarter. Wealth Alliance now owns 19,905 shares of the biopharmaceutical company’s stock valued at $1,366,000 after purchasing an additional 5,716 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in shares of Gilead Sciences by 1.7% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 39,381 shares of the biopharmaceutical company’s stock valued at $2,702,000 after buying an additional 642 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Gilead Sciences by 0.3% during the second quarter. Mutual of America Capital Management LLC now owns 179,205 shares of the biopharmaceutical company’s stock valued at $12,295,000 after acquiring an additional 580 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Gilead Sciences by 10.2% in the second quarter. Axxcess Wealth Management LLC now owns 19,746 shares of the biopharmaceutical company’s stock worth $1,355,000 after acquiring an additional 1,830 shares during the period. Finally, Alpha Family Trust boosted its holdings in Gilead Sciences by 28.4% in the second quarter. Alpha Family Trust now owns 9,315 shares of the biopharmaceutical company’s stock valued at $639,000 after acquiring an additional 2,060 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.