Gilead Sciences (NASDAQ:GILD) Price Target Lowered to $74.00 at Royal Bank of Canada

Gilead Sciences (NASDAQ:GILD) had its price objective decreased by Royal Bank of Canada from $76.00 to $74.00 in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued reports about the company. UBS Group dropped their price objective on Gilead Sciences from $81.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. StockNews.com lowered Gilead Sciences from a strong-buy rating to a buy rating in a research report on Friday, April 19th. HSBC raised Gilead Sciences from a reduce rating to a hold rating and set a $69.00 target price for the company in a research report on Wednesday. Cantor Fitzgerald decreased their target price on Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company decreased their target price on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating for the company in a research report on Monday, March 4th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of Hold and an average price target of $83.87.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $65.42 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The stock’s fifty day simple moving average is $71.28 and its two-hundred day simple moving average is $76.25. Gilead Sciences has a 1-year low of $64.63 and a 1-year high of $87.86. The stock has a market cap of $81.45 billion, a PE ratio of 181.72, a price-to-earnings-growth ratio of 1.17 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 23.08% and a net margin of 1.76%. The business had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period last year, the business earned $1.37 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, analysts forecast that Gilead Sciences will post 4.2 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.71%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Altfest L J & Co. Inc. bought a new stake in shares of Gilead Sciences during the 4th quarter valued at about $210,000. Federated Hermes Inc. boosted its position in shares of Gilead Sciences by 4.9% during the 4th quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock valued at $306,814,000 after acquiring an additional 175,925 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Gilead Sciences during the 4th quarter valued at about $74,000. Abundance Wealth Counselors bought a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $1,881,000. Finally, HTLF Bank bought a new stake in shares of Gilead Sciences during the 4th quarter valued at about $253,000. 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.