Gilead Sciences Inc. (GILD) Price Target Cut to $108.00 by Analysts at Piper Jaffray Cos.
Gilead Sciences Inc. (NASDAQ:GILD) had its price objective lowered by analysts at Piper Jaffray Cos. from $114.00 to $108.00 in a report released on Tuesday. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price objective indicates a potential upside of 43.54% from the stock’s current price.
Several other equities analysts have also issued reports on GILD. Zacks Investment Research lowered shares of Gilead Sciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Gilead Sciences in a report on Saturday, May 14th. Jefferies Group reissued a “hold” rating and set a $96.00 price objective on shares of Gilead Sciences in a report on Wednesday, June 29th. Royal Bank Of Canada reissued a “buy” rating on shares of Gilead Sciences in a report on Saturday, April 30th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and set a $116.00 price objective (down from $120.00) on shares of Gilead Sciences in a report on Wednesday, May 4th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $104.71.
Shares of Gilead Sciences (NASDAQ:GILD) traded down 1.27% during midday trading on Tuesday, reaching $75.24. The company’s stock had a trading volume of 11,149,150 shares. The stock has a 50-day moving average of $78.95 and a 200 day moving average of $85.05. The firm has a market capitalization of $99.29 billion, a P/E ratio of 6.60 and a beta of 1.10. Gilead Sciences has a 12-month low of $74.92 and a 12-month high of $111.11.
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Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results 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 business had revenue of $7.78 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period in the previous year, the company earned $3.15 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts predict that Gilead Sciences will post $11.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 16th were paid a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.88 annualized dividend and a dividend yield of 2.50%. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.
In other news, Director Kevin E. Lofton sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $81.97, for a total value of $286,895.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Rutherford Carter sold 2,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $79.81, for a total transaction of $159,620.00. Following the completion of the sale, the executive vice president now directly owns 64,122 shares of the company’s stock, valued at approximately $5,117,576.82. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Van Hulzen Asset Management LLC raised its position 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 in the last quarter. Joel Isaacson & Co. LLC raised its position 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 in the last quarter. Roble Belko & Company Inc raised its position 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 in the last quarter. Pinkerton Retirement Specialists LLC raised its position 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 in the last quarter. Finally, Jolley Asset Management LLC raised its position in shares of Gilead Sciences by 67.3% in the second quarter. Jolley Asset Management LLC now owns 1,696 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 682 shares in the last quarter. 77.94% of the stock is owned by institutional investors and hedge funds.
About Gilead Sciences
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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