Vetr downgraded shares of Gilead Sciences, Inc. (NASDAQ:GILD) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday. The brokerage currently has $76.20 price target on the biopharmaceutical company’s stock.
Other analysts have also recently issued research reports about the company. Citigroup Inc lifted their price objective on Gilead Sciences to $87.00 in a research report on Thursday, January 26th. Royal Bank of Canada reduced their price objective on Gilead Sciences to $75.00 in a research report on Wednesday, February 8th. Stifel Nicolaus reissued a buy rating and set a $100.00 price objective on shares of Gilead Sciences in a research report on Wednesday, January 11th. Cowen and Company reissued a buy rating and set a $100.00 price objective on shares of Gilead Sciences in a research report on Friday, January 6th. Finally, Jefferies Group LLC reissued a buy rating and set a $91.00 price objective on shares of Gilead Sciences in a research report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $83.19.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 68.96 on Wednesday. The firm has a market cap of $90.14 billion, a price-to-earnings ratio of 6.94 and a beta of 1.11. Gilead Sciences has a 12-month low of $65.38 and a 12-month high of $103.10. The firm has a 50-day moving average price of $69.69 and a 200 day moving average price of $73.79.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 7th. The biopharmaceutical company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.09. The firm earned $7.30 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Gilead Sciences had a return on equity of 92.36% and a net margin of 44.43%. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.32 earnings per share. On average, equities research analysts anticipate that Gilead Sciences will post $8.24 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 3.01%. Gilead Sciences’s dividend payout ratio is 18.91%.
In related news, insider John C. Martin sold 73,337 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $73.59, for a total transaction of $5,396,869.83. Following the sale, the insider now directly owns 3,204,433 shares in the company, valued at approximately $235,814,224.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Gilead Sciences by 4.5% in the fourth quarter. State Street Corp now owns 60,448,831 shares of the biopharmaceutical company’s stock worth $4,328,739,000 after buying an additional 2,587,072 shares during the period. Bank of New York Mellon Corp increased its position in Gilead Sciences by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 26,786,930 shares of the biopharmaceutical company’s stock valued at $2,119,382,000 after buying an additional 169,701 shares in the last quarter. BlackRock Fund Advisors increased its position in Gilead Sciences by 6.8% in the third quarter. BlackRock Fund Advisors now owns 26,032,555 shares of the biopharmaceutical company’s stock valued at $2,059,696,000 after buying an additional 1,663,268 shares in the last quarter. Franklin Resources Inc. increased its position in Gilead Sciences by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 14,317,385 shares of the biopharmaceutical company’s stock valued at $1,025,373,000 after buying an additional 313,703 shares in the last quarter. Finally, Norges Bank purchased a new position in Gilead Sciences during the fourth quarter valued at about $997,048,000. Institutional investors and hedge funds own 74.19% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
To view Vetr’s full report, visit Vetr’s official website.
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