Gilead Sciences (NASDAQ:GILD) Stock Dropped to Hold by Zacks Research

Zacks Research downgraded shares of Gilead Sciences (NASDAQ:GILD) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks reports.

GILD has been the subject of several other reports. Morgan Stanley dropped their target price on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. HSBC increased their price target on shares of Gilead Sciences from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Weiss Ratings upgraded shares of Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Twenty-three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $158.78.

Gilead Sciences Trading Down 1.5%

Shares of NASDAQ GILD opened at $149.05 on Tuesday. Gilead Sciences has a twelve month low of $108.46 and a twelve month high of $157.29. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock has a fifty day simple moving average of $142.99 and a 200-day simple moving average of $136.47. The stock has a market capitalization of $184.82 billion, a PE ratio of -55.82 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The firm had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts forecast that Gilead Sciences will post -0.48 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences’s dividend payout ratio is -122.85%.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew Dickinson sold 3,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $145.29, for a total value of $435,870.00. Following the sale, the chief financial officer owned 164,096 shares of the company’s stock, valued at $23,841,507.84. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the transaction, the director owned 10,066 shares of the company’s stock, valued at $1,459,771.32. The trade was a 33.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 90,000 shares of company stock worth $12,722,040 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GILD. QRG Capital Management Inc. grew its holdings in Gilead Sciences by 0.6% during the 2nd quarter. QRG Capital Management Inc. now owns 227,523 shares of the biopharmaceutical company’s stock worth $28,745,000 after acquiring an additional 1,277 shares in the last quarter. State Street Corp raised its holdings in shares of Gilead Sciences by 2.3% in the 2nd quarter. State Street Corp now owns 61,216,552 shares of the biopharmaceutical company’s stock valued at $7,734,099,000 after purchasing an additional 1,357,967 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Gilead Sciences during the 2nd quarter worth $63,000. Anchor Investment Management LLC lifted its position in shares of Gilead Sciences by 843.7% during the 2nd quarter. Anchor Investment Management LLC now owns 2,831 shares of the biopharmaceutical company’s stock worth $358,000 after purchasing an additional 2,531 shares during the last quarter. Finally, Bullseye Investment Management LLC acquired a new position in shares of Gilead Sciences during the second quarter worth $2,085,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc (NASDAQ: GILD) is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead’s portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.