Investors purchased shares of Gilead Sciences, Inc. (NASDAQ:GILD) on weakness during trading hours on Wednesday after RBC Capital Markets lowered their price target on the stock to $75.00. $743.68 million flowed into the stock on the tick-up and $676.20 million flowed out of the stock on the tick-down, for a money net flow of $67.48 million into the stock. Of all equities tracked, Gilead Sciences had the 5th highest net in-flow for the day. Gilead Sciences traded down ($6.30) for the day and closed at $66.83
Several other brokerages have also issued reports on GILD. Credit Suisse Group decreased their price target on shares of Gilead Sciences from $93.00 to $79.00 and set an “outperform” rating on the stock in a report on Wednesday. Vetr lowered shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $84.73 target price on the stock. in a report on Wednesday, January 4th. Piper Jaffray Companies reissued an “overweight” rating on shares of Gilead Sciences in a report on Saturday, October 22nd. Jefferies Group LLC reissued a “buy” rating on shares of Gilead Sciences in a report on Tuesday, November 8th. Finally, TheStreet lowered shares of Gilead Sciences from a “b-” rating to a “c+” rating in a report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $90.68.
In related news, Director John W. Madigan sold 105,000 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $74.86, for a total value of $7,860,300.00. Following the sale, the director now directly owns 121,761 shares of the company’s stock, valued at $9,115,028.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John C. Martin sold 73,337 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $73.59, for a total transaction of $5,396,869.83. Following the transaction, the insider now directly owns 3,204,433 shares in the company, valued at $235,814,224.47. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GILD. Van Hulzen Asset Management LLC increased its position in Gilead Sciences by 9.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 100 shares during the period. Penserra Capital Management LLC increased its position in Gilead Sciences by 148.3% in the third quarter. Penserra Capital Management LLC now owns 1,296 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 774 shares during the period. Gemmer Asset Management LLC increased its position in Gilead Sciences by 15.5% in the third quarter. Gemmer Asset Management LLC now owns 1,301 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 175 shares during the period. Lombard Odier Transatlantic Limited Partnership increased its position in Gilead Sciences by 55.6% in the third quarter. Lombard Odier Transatlantic Limited Partnership now owns 1,400 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 500 shares during the period. Finally, Cable Hill Partners LLC increased its position in Gilead Sciences by 19.1% in the third quarter. Cable Hill Partners LLC now owns 1,639 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 263 shares during the period. 74.62% of the stock is currently owned by hedge funds and other institutional investors.
The company has a 50-day moving average of $72.72 and a 200-day moving average of $75.94. The firm has a market cap of $88.05 billion, a PE ratio of 6.18 and a beta of 1.11.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 7th. The biopharmaceutical company reported $2.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.09. The company earned $7.30 billion during the quarter, compared to the consensus estimate of $7.16 billion. Gilead Sciences had a return on equity of 100.57% and a net margin of 47.74%. The firm’s revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.32 EPS. On average, analysts predict that Gilead Sciences, Inc. will post $10.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.11%. Gilead Sciences’s payout ratio is 17.44%.
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.