Gilead Sciences (NASDAQ:GILD) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Gilead Sciences (NASDAQ:GILD) in a report issued on Thursday morning, Benzinga reports.

Other equities analysts also recently issued reports about the stock. UBS Group lowered their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Robert W. Baird restated a neutral rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Evercore ISI raised Gilead Sciences to a strong-buy rating in a research report on Friday, August 9th. Maxim Group dropped their price target on Gilead Sciences from $90.00 to $85.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald reaffirmed a neutral rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $81.94.

Gilead Sciences Price Performance

Shares of GILD traded down $0.60 during mid-day trading on Thursday, reaching $73.74. 2,686,550 shares of the stock traded hands, compared to its average volume of 7,305,779. The firm has a fifty day moving average price of $70.62 and a 200 day moving average price of $70.35. The company has a market cap of $91.87 billion, a price-to-earnings ratio of 206.50, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $87.86.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the 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 transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several institutional investors have recently modified their holdings of the company. Institute for Wealth Management LLC. raised its stake in shares of Gilead Sciences by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock worth $518,000 after buying an additional 142 shares in the last quarter. First Affirmative Financial Network boosted its stake in shares of Gilead Sciences by 3.5% during the 1st quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock valued at $318,000 after buying an additional 147 shares during the period. Insigneo Advisory Services LLC increased its position in Gilead Sciences by 1.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock worth $661,000 after purchasing an additional 148 shares during the last quarter. Rathbones Group PLC raised its position in Gilead Sciences by 3.7% during the fourth quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock valued at $339,000 after acquiring an additional 150 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in Gilead Sciences by 2.1% in the first quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 152 shares in the last quarter. 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.