Royal Bank of Canada Reaffirms Sector Perform Rating for Gilead Sciences (NASDAQ:GILD)

Royal Bank of Canada reiterated their sector perform rating on shares of Gilead Sciences (NASDAQ:GILD) in a research report sent to investors on Monday, Benzinga reports. They currently have a $74.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on the stock. StockNews.com raised shares of Gilead Sciences from a buy rating to a strong-buy rating in a report on Saturday, April 27th. Robert W. Baird reissued a neutral rating and set a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Needham & Company LLC reaffirmed a hold rating on shares of Gilead Sciences in a research note on Friday, April 26th. TD Cowen dropped their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research note on Friday, April 26th. Finally, Maxim Group dropped their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, May 1st. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $83.47.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $66.59 on Monday. Gilead Sciences has a twelve month low of $62.07 and a twelve month high of $87.86. The firm has a market cap of $82.96 billion, a P/E ratio of 184.97, a price-to-earnings-growth ratio of 2.92 and a beta of 0.18. The firm’s 50-day simple moving average is $66.04 and its 200-day simple moving average is $72.33. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same period last year, the firm posted $1.37 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Gilead Sciences will post 3.75 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Friday, June 14th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Etesian Wealth Advisors Inc. boosted its holdings in shares of Gilead Sciences by 0.7% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after buying an additional 128 shares during the period. Financial Counselors Inc. lifted its position in shares of Gilead Sciences by 1.5% in the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock worth $718,000 after purchasing an additional 128 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Gilead Sciences by 3.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 130 shares in the last quarter. Steph & Co. lifted its position in shares of Gilead Sciences by 1.9% in the fourth quarter. Steph & Co. now owns 7,548 shares of the biopharmaceutical company’s stock worth $611,000 after purchasing an additional 142 shares in the last quarter. Finally, First Affirmative Financial Network lifted its position in shares of Gilead Sciences by 3.5% in the first quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock worth $318,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds 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.