Needham & Company LLC Lowers Gilead Sciences Inc. (GILD) to Hold
Gilead Sciences Inc. (NASDAQ:GILD) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They presently have a $88.55 target price on the biopharmaceutical company’s stock, up from their prior target price of $84.60. Needham & Company LLC’s price target would suggest a potential upside of 17.69% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $110.00 price objective on shares of Gilead Sciences in a research report on Monday, March 28th. Bank of America Corp. reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Gilead Sciences in a research report on Thursday, March 31st. Leerink Swann reaffirmed an “outperform” rating and set a $127.00 price objective on shares of Gilead Sciences in a research report on Friday, April 1st. Morgan Stanley reaffirmed a “hold” rating and set a $111.00 price objective on shares of Gilead Sciences in a research report on Friday, April 1st. Finally, Vetr cut shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $104.96 price objective for the company. in a research report on Monday, April 4th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $104.71.
Gilead Sciences (NASDAQ:GILD) traded down 1.27% during midday trading on Tuesday, reaching $75.24. 11,149,150 shares of the company’s stock traded hands. Gilead Sciences has a 1-year low of $74.92 and a 1-year high of $111.11. The firm’s 50 day moving average price is $78.95 and its 200-day moving average price is $85.05. The company has a market capitalization of $99.29 billion, a PE ratio of 6.60 and a beta of 1.10.
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Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 EPS for the quarter, beating 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 earned $7.78 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same quarter last year, the company posted $3.15 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. Equities analysts expect that Gilead Sciences will post $11.76 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 16th were given a dividend of $0.47 per share. The ex-dividend date was Wednesday, September 14th. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. Gilead Sciences’s dividend payout ratio (DPR) is currently 16.56%.
In other Gilead Sciences news, insider John C. Martin sold 100,000 shares of Gilead Sciences stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $77.63, for a total value of $7,763,000.00. Following the transaction, the insider now owns 3,231,096 shares in the company, valued at approximately $250,829,982.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul Rutherford Carter sold 2,000 shares of Gilead Sciences stock in a transaction 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 transaction, the executive vice president now owns 64,122 shares in the company, valued at approximately $5,117,576.82. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in GILD. Fiduciary Trust Co. raised its position in shares of Gilead Sciences by 3.6% in the fourth quarter. Fiduciary Trust Co. now owns 155,767 shares of the biopharmaceutical company’s stock worth $15,761,000 after buying an additional 5,470 shares during the period. Gamble Jones Investment Counsel raised its position in shares of Gilead Sciences by 9.2% in the fourth quarter. Gamble Jones Investment Counsel now owns 50,603 shares of the biopharmaceutical company’s stock worth $5,121,000 after buying an additional 4,261 shares during the period. Sandy Spring Bank raised its position in shares of Gilead Sciences by 2.7% in the fourth quarter. Sandy Spring Bank now owns 35,460 shares of the biopharmaceutical company’s stock worth $3,588,000 after buying an additional 930 shares during the period. Hendershot Investments Inc. raised its position in shares of Gilead Sciences by 2.5% in the fourth quarter. Hendershot Investments Inc. now owns 77,995 shares of the biopharmaceutical company’s stock worth $7,892,000 after buying an additional 1,913 shares during the period. Finally, LSV Asset Management increased its position in shares of Gilead Sciences by 4.0% in the fourth quarter. LSV Asset Management now owns 1,729,657 shares of the biopharmaceutical company’s stock worth $175,023,000 after buying an additional 66,061 shares in the last quarter. Institutional investors own 77.94% of the company’s stock.
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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