Robert W. Baird Reiterates “Outperform” Rating for Gilead Sciences, Inc. (NASDAQ:GILD)
Gilead Sciences, Inc. (NASDAQ:GILD)‘s stock had its “outperform” rating reaffirmed by analysts at Robert W. Baird in a report issued on Thursday. They presently have a $87.00 price objective on the biopharmaceutical company’s stock. Robert W. Baird’s price target indicates a potential upside of 23.26% from the stock’s previous close.
Several other research analysts have also weighed in on GILD. Credit Suisse Group reiterated an “outperform” rating and set a $79.00 target price on shares of Gilead Sciences in a report on Wednesday, March 15th. Jefferies Group LLC reiterated a “buy” rating and set a $63.00 target price on shares of Gilead Sciences in a report on Wednesday, March 15th. Vetr lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $76.20 target price on the stock. in a report on Wednesday, March 15th. Barclays PLC reiterated a “buy” rating and set a $90.00 target price on shares of Gilead Sciences in a report on Wednesday, March 22nd. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $82.00 target price on shares of Gilead Sciences in a report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $80.44.
Shares of Gilead Sciences (NASDAQ GILD) traded up 1.12% during midday trading on Thursday, reaching $70.58. The company had a trading volume of 7,533,925 shares. The firm has a market cap of $92.23 billion, a P/E ratio of 7.46 and a beta of 1.21. Gilead Sciences has a 52-week low of $63.76 and a 52-week high of $88.85. The company’s 50-day moving average is $66.03 and its 200-day moving average is $68.95.
Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $0.02. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.66 billion. Gilead Sciences had a return on equity of 76.64% and a net margin of 43.42%. Equities research analysts expect that Gilead Sciences will post $8.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Friday, June 16th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 21.99%.
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In related news, EVP Gregg H. Alton sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $71.06, for a total value of $355,300.00. Following the completion of the sale, the executive vice president now directly owns 102,988 shares in the company, valued at $7,318,327.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John C. Martin sold 73,333 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $71.00, for a total value of $5,206,643.00. Following the completion of the sale, the insider now owns 3,199,969 shares of the company’s stock, valued at $227,197,799. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,276 shares of company stock valued at $6,230,610. 1.30% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Gilead Sciences during the fourth quarter valued at about $997,048,000. Parnassus Investments CA boosted its stake in shares of Gilead Sciences by 37.4% in the first quarter. Parnassus Investments CA now owns 16,726,150 shares of the biopharmaceutical company’s stock valued at $1,110,228,000 after buying an additional 4,556,901 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Gilead Sciences by 170.9% in the fourth quarter. Renaissance Technologies LLC now owns 5,274,948 shares of the biopharmaceutical company’s stock valued at $377,739,000 after buying an additional 3,327,900 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gilead Sciences by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 30,570,798 shares of the biopharmaceutical company’s stock valued at $2,076,368,000 after buying an additional 2,727,063 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Gilead Sciences by 516.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,410,521 shares of the biopharmaceutical company’s stock valued at $172,719,000 after buying an additional 2,019,344 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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