Gilead Sciences Inc. (GILD) Price Target Lowered to $105.00 at Royal Bank Of Canada
Gilead Sciences Inc. (NASDAQ:GILD) had its price target cut by analysts at Royal Bank Of Canada from $120.00 to $105.00 in a report issued on Tuesday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 39.55% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Credit Suisse Group AG reissued an “outperform” rating and set a $120.00 price target (up from $116.00) on shares of Gilead Sciences in a report on Thursday, April 28th. Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $116.00 price target (down from $120.00) on shares of Gilead Sciences 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. Finally, Morgan Stanley reissued a “hold” rating on shares of Gilead Sciences in a report on Sunday, May 29th. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $104.71.
Gilead Sciences (NASDAQ:GILD) traded down 1.27% during trading on Tuesday, reaching $75.24. The company had a trading volume of 11,149,150 shares. The firm’s 50-day moving average price is $78.95 and its 200 day moving average price is $85.05. Gilead Sciences has a one year low of $74.92 and a one year high of $111.11. The firm has a market capitalization of $99.29 billion, a P/E ratio of 6.60 and a beta of 1.10.
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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 for the quarter, beating the consensus estimate of $3.02 by $0.06. The firm had revenue of $7.78 billion for the quarter, compared to analysts’ expectations of $7.80 billion. Gilead Sciences had a return on equity of 106.75% and a net margin of 50.50%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.15 EPS. Equities analysts forecast that Gilead Sciences will post $11.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is 16.56%.
In related news, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $81.84, for a total value of $409,200.00. Following the completion of the transaction, the executive vice president now owns 132,964 shares of the company’s stock, valued at $10,881,773.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin E. Lofton sold 3,500 shares of the business’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 transaction of $286,895.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Van Hulzen Asset Management LLC raised its position in 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 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 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 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 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.
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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