Needham & Company LLC Reiterates “Hold” Rating for Gilead Sciences (NASDAQ:GILD)

Needham & Company LLC reiterated their hold rating on shares of Gilead Sciences (NASDAQ:GILD) in a research report sent to investors on Friday, Benzinga reports.

GILD has been the subject of several other research reports. Truist Financial lowered shares of Gilead Sciences from a buy rating to a hold rating and lowered their price target for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Cantor Fitzgerald lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a research report on Wednesday, February 7th. Mizuho lowered their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a buy rating for the company in a research report on Thursday, February 22nd. StockNews.com lowered shares of Gilead Sciences from a strong-buy rating to a buy rating in a research report on Friday, April 19th. Finally, HSBC raised shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price objective for the company in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $83.87.

Gilead Sciences Stock Up 0.2 %

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

Gilead Sciences (NASDAQ:GILD) last released its earnings results 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. The firm had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Research analysts predict that Gilead Sciences will post 4.2 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.71%. Gilead Sciences’s dividend payout ratio (DPR) is 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 shares were 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 directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tompkins Financial Corp boosted its holdings in shares of Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 241 shares during the period. Private Wealth Management Group LLC bought a new position in Gilead Sciences during the fourth quarter valued at approximately $29,000. OFI Invest Asset Management bought a new position in Gilead Sciences during the third quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new position in Gilead Sciences during the fourth quarter valued at approximately $29,000. Finally, Sachetta LLC bought a new position in Gilead Sciences during the fourth quarter valued at approximately $30,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

About Gilead Sciences

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.