Berenberg Bank Initiates Coverage on Gilead Sciences Inc. (GILD)
Research analysts at Berenberg Bank started coverage on shares of Gilead Sciences Inc. (NASDAQ:GILD) in a research report issued on Thursday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.
Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, September 14th. Credit Suisse Group AG decreased their price objective on shares of Gilead Sciences from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, September 14th. Jefferies Group reiterated a “buy” rating and issued a $91.00 price objective on shares of Gilead Sciences in a report on Monday, September 12th. Morgan Stanley set a $100.00 price objective on shares of Gilead Sciences and gave the company a “hold” rating in a report on Tuesday, September 6th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $108.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 31st. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $105.41.
Shares of Gilead Sciences (NASDAQ:GILD) opened at 81.70 on Thursday. Gilead Sciences has a 1-year low of $76.67 and a 1-year high of $111.11. The stock has a market capitalization of $107.82 billion, a PE ratio of 7.17 and a beta of 1.06. The firm has a 50-day moving average of $79.37 and a 200 day moving average of $85.98.
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Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, topping the consensus estimate of $3.02 by $0.06. Gilead Sciences had a net margin of 50.50% and a return on equity of 106.75%. The firm earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same quarter in the prior year, the firm earned $3.15 EPS. Gilead Sciences’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities analysts anticipate that Gilead Sciences will post $11.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 16.56%.
In other news, insider John F. Milligan sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $77.74, for a total transaction of $5,441,800.00. Following the completion of the transaction, the insider now directly owns 1,128,963 shares of the company’s stock, valued at approximately $87,765,583.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John C. Martin sold 100,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $84.73, for a total transaction of $8,473,000.00. Following the transaction, the chairman now directly owns 4,119,727 shares of the company’s stock, valued at $349,064,468.71. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in GILD. Evercore Wealth Management LLC increased its position in Gilead Sciences by 1.0% in the second quarter. Evercore Wealth Management LLC now owns 457,553 shares of the biopharmaceutical company’s stock worth $38,169,000 after buying an additional 4,467 shares during the last quarter. Carnick & Kubik Group LLC acquired a new position in Gilead Sciences during the second quarter worth approximately $1,060,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Gilead Sciences during the second quarter worth approximately $4,486,000. Kentucky Retirement Systems acquired a new position in Gilead Sciences during the second quarter worth approximately $9,448,000. Finally, KAMES CAPITAL plc increased its position in Gilead Sciences by 2.9% in the second quarter. KAMES CAPITAL plc now owns 335,796 shares of the biopharmaceutical company’s stock worth $28,005,000 after buying an additional 9,407 shares during the last quarter. 77.94% of the stock is owned by institutional investors.
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.
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