Insider Selling: Gilead Sciences CEO Unloads 140,625 Shares of Stock (GILD)
Gilead Sciences (NASDAQ:GILD) CEO John C. Martin sold 140,625 shares of the stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $108.64, for a total value of $15,277,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,429,387 shares of the company’s stock, valued at approximately $481,208,604. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Gilead Sciences (NASDAQ:GILD) traded down 2.35% during mid-day trading on Thursday, hitting $106.86. The stock had a trading volume of 13,763,401 shares. Gilead Sciences has a 52-week low of $58.81 and a 52-week high of $110.64. The stock’s 50-day moving average is $96.38 and its 200-day moving average is $83.42. The company has a market cap of $161.5 billion and a price-to-earnings ratio of 24.79. Gilead Sciences also was the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 90,068,658 shares, a decrease of 8.5% from the July 31st total of 98,473,543 shares. Based on an average daily volume of 11,565,205 shares, the short-interest ratio is presently 7.8 days. Currently, 5.9% of the shares of the stock are sold short.
Gilead Sciences (NASDAQ:GILD) last released its earnings data on Wednesday, July 23rd. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.63. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 136.1% on a year-over-year basis. On average, analysts predict that Gilead Sciences will post $8.01 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Gilead Sciences from $102.00 to $115.00 in a research note on Friday, August 22nd. They now have an “outperform” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Gilead Sciences from $95.00 to $105.00 in a research note on Friday, August 15th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $105.55.
Gilead Sciences, Inc (NASDAQ:GILD) is a research-based biopharmaceutical company that discovers, develops and commercializes medicines.