Traders Buy Gilead Sciences Inc. (GILD) on Weakness
Traders bought shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading hours on Wednesday. $213.74 million flowed into the stock on the tick-up and $193.59 million flowed out of the stock on the tick-down, for a money net flow of $20.15 million into the stock. Of all stocks tracked, Gilead Sciences had the 6th highest net in-flow for the day. Gilead Sciences traded down ($0.08) for the day and closed at $81.70
Several research firms have recently weighed in on GILD. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $108.00 price target on shares of Gilead Sciences in a research note on Monday, August 15th. Jefferies Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $76.89 to $91.00 in a research note on Tuesday, September 6th. Morgan Stanley reaffirmed a “hold” rating and set a $103.00 price target on shares of Gilead Sciences in a research note on Wednesday, June 15th. Berenberg Bank began coverage on shares of Gilead Sciences in a research note on Monday, September 12th. They set a “buy” rating and a $112.00 price target for the company. Finally, Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Sunday, July 10th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $105.41.
The stock’s 50 day moving average is $79.37 and its 200 day moving average is $85.98. The firm has a market capitalization of $107.82 billion, a P/E ratio of 7.17 and a beta of 1.06.
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Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period last year, the firm posted $3.15 EPS. Gilead Sciences’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities analysts expect that Gilead Sciences Inc. will post $11.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date is Wednesday, September 14th. Gilead Sciences’s payout ratio is currently 16.56%.
In other news, Chairman John C. Martin sold 100,000 shares of Gilead Sciences stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $84.73, for a total value of $8,473,000.00. Following the sale, the chairman now owns 4,119,727 shares of the company’s stock, valued at $349,064,468.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John F. Milligan sold 112,000 shares of Gilead Sciences stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $84.33, for a total transaction of $9,444,960.00. Following the completion of the sale, the chief executive officer now directly owns 1,170,963 shares in the company, valued at approximately $98,747,309.79. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Several hedge funds have recently modified their holdings of GILD. Van Hulzen Asset Management LLC increased its stake in shares of Gilead Sciences by 9.1% in the second quarter. Van Hulzen Asset Management LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 100 shares during the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of Gilead Sciences by 20.8% in the second quarter. Joel Isaacson & Co. LLC now owns 1,310 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 226 shares during the last quarter. Roble Belko & Company Inc increased its stake in shares of Gilead Sciences by 340.5% in the second quarter. Roble Belko & Company Inc now owns 1,339 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,035 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Gilead Sciences by 23.3% in the first quarter. Loomis Sayles & Co. L P now owns 1,591 shares of the biopharmaceutical company’s stock valued at $146,000 after buying an additional 301 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC increased its stake in shares of Gilead Sciences by 9,305.9% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,599 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 1,582 shares during the last quarter. 77.94% of the stock is currently owned by institutional investors and hedge funds.
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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