Traders Buy Gilead Sciences Inc. (GILD) on Weakness After Insider Selling
Investors bought shares of Gilead Sciences Inc. (NASDAQ:GILD) on weakness during trading hours on Friday following insider selling activity. $163.18 million flowed into the stock on the tick-up and $129.32 million flowed out of the stock on the tick-down, for a money net flow of $33.86 million into the stock. Of all equities tracked, Gilead Sciences had the 5th highest net in-flow for the day. Gilead Sciences traded down ($1.36) for the day and closed at $76.21Specifically, Director Kevin E. Lofton sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $81.97, for a total value of $286,895.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John C. Martin sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $80.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now directly owns 4,119,727 shares in the company, valued at $331,638,023.50. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
GILD has been the topic of a number of recent analyst reports. Leerink Swann reissued a “buy” rating and issued a $120.00 price objective (down from $123.00) on shares of Gilead Sciences in a research note on Thursday, June 9th. Zacks Investment Research downgraded Gilead Sciences from a “hold” rating to a “sell” rating in a research report on Monday, June 13th. Jefferies Group reaffirmed a “hold” rating and issued a $96.00 price target on shares of Gilead Sciences in a research report on Sunday, June 12th. Morgan Stanley reaffirmed a “hold” rating and issued a $103.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $97.00 price target on shares of Gilead Sciences in a research report on Wednesday, June 29th. Ten analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Gilead Sciences has an average rating of “Buy” and an average price target of $104.71.
The company has a market capitalization of $99.29 billion, a price-to-earnings ratio of 6.60 and a beta of 1.10. The company’s 50 day moving average price is $79.10 and its 200-day moving average price is $85.17.
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Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.06. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The firm had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the company earned $3.15 EPS. The company’s revenue was down 5.7% on a year-over-year basis. Analysts expect that Gilead Sciences Inc. will post $11.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Friday, September 16th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is presently 16.56%.
Several large investors have recently modified their holdings of the stock. CWM LLC increased its stake in shares of Gilead Sciences by 0.6% in the second quarter. CWM LLC now owns 2,957 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 17 shares in the last quarter. Cadence Bank NA increased its stake in shares of Gilead Sciences by 0.8% in the second quarter. Cadence Bank NA now owns 3,727 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 28 shares in the last quarter. Marble Harbor Investment Counsel LLC increased its stake in shares of Gilead Sciences by 0.9% in the second quarter. Marble Harbor Investment Counsel LLC now owns 3,330 shares of the biopharmaceutical company’s stock worth $278,000 after buying an additional 30 shares in the last quarter. Birch Hill Investment Advisors LLC increased its stake in shares of Gilead Sciences by 0.9% in the second quarter. Birch Hill Investment Advisors LLC now owns 3,336 shares of the biopharmaceutical company’s stock worth $278,000 after buying an additional 30 shares in the last quarter. Finally, West Oak Capital LLC increased its stake in shares of Gilead Sciences by 0.7% in the third quarter. West Oak Capital LLC now owns 4,449 shares of the biopharmaceutical company’s stock worth $352,000 after buying an additional 32 shares in the last quarter. 77.94% of the stock is currently owned by hedge funds and other 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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