Gilead Sciences (NASDAQ:GILD) PT Lowered to $74.00

Gilead Sciences (NASDAQ:GILD) had its price target cut by Royal Bank of Canada from $76.00 to $74.00 in a research note released on Friday, Benzinga reports. They currently have a sector perform rating on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on the company. StockNews.com cut Gilead Sciences from a strong-buy rating to a buy rating in a research report on Friday, April 19th. Mizuho lowered their price objective on Gilead Sciences from $101.00 to $90.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. Oppenheimer reaffirmed an outperform rating and issued a $105.00 price objective on shares of Gilead Sciences in a research report on Friday, April 19th. Barclays lowered their price objective on Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a research report on Monday, February 12th. Finally, Needham & Company LLC reissued a hold rating on shares of Gilead Sciences in a report on Friday. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $83.60.

Gilead Sciences Stock Up 0.8 %

Shares of NASDAQ:GILD opened at $65.94 on Friday. Gilead Sciences has a 1 year low of $64.63 and a 1 year high of $87.86. The company has a market cap of $82.10 billion, a PE ratio of 183.17, a P/E/G ratio of 1.29 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72. The stock’s 50-day moving average is $71.16 and its 200 day moving average is $76.17.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Gilead Sciences will post 3.82 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.67%. Gilead Sciences’s payout ratio is 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stock Yards Bank & Trust Co. boosted its stake in Gilead Sciences by 8.0% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 3,413 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 253 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Gilead Sciences by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 922,960 shares of the biopharmaceutical company’s stock worth $67,607,000 after acquiring an additional 35,021 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Gilead Sciences by 4.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 334,770 shares of the biopharmaceutical company’s stock worth $24,522,000 after acquiring an additional 13,149 shares in the last quarter. RWA Wealth Partners LLC raised its holdings in shares of Gilead Sciences by 0.9% during the 1st quarter. RWA Wealth Partners LLC now owns 33,495 shares of the biopharmaceutical company’s stock worth $2,454,000 after acquiring an additional 291 shares in the last quarter. Finally, Phillips Wealth Planners LLC raised its holdings in shares of Gilead Sciences by 33.6% during the 1st quarter. Phillips Wealth Planners LLC now owns 3,969 shares of the biopharmaceutical company’s stock worth $267,000 after acquiring an additional 999 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.