Gilead Sciences (NASDAQ:GILD – Free Report) had its price objective lifted by Royal Bank of Canada from $81.00 to $84.00 in a research report sent to investors on Monday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biopharmaceutical company’s stock.
Several other brokerages have also issued reports on GILD. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial raised their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.41.
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Gilead Sciences Stock Performance
Gilead Sciences (NASDAQ:GILD – Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $2.29 earnings per share. As a group, equities analysts predict that Gilead Sciences will post 4.38 EPS for the current year.
Gilead Sciences Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.43%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.
Insider Transactions at Gilead Sciences
In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock valued at $4,968,674 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.
Hedge Funds Weigh In On Gilead Sciences
A number of institutional investors and hedge funds have recently bought and sold shares of GILD. FMR LLC boosted its position in Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares during the last quarter. Swedbank AB acquired a new position in shares of Gilead Sciences in the 1st quarter worth approximately $134,489,000. Point72 Asset Management L.P. lifted its holdings in shares of Gilead Sciences by 350.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after acquiring an additional 1,793,145 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after acquiring an additional 1,622,806 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.
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.
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