Gilead Sciences (NASDAQ:GILD) Shares Gap Up to $80.94

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) gapped up prior to trading on Thursday . The stock had previously closed at $80.94, but opened at $83.02. Gilead Sciences shares last traded at $82.58, with a volume of 2,257,391 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on GILD. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Monday, July 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. BMO Capital Markets raised their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada lifted their price objective on Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Gilead Sciences Stock Up 2.3 %

The firm has a 50 day moving average of $74.82 and a two-hundred day moving average of $70.72. The firm has a market capitalization of $103.18 billion, a price-to-earnings ratio of 224.83, a price-to-earnings-growth ratio of 2.73 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. raised its position in Gilead Sciences by 144.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,165 shares of the biopharmaceutical company’s stock valued at $286,000 after purchasing an additional 2,462 shares during the last quarter. Lazari Capital Management Inc. lifted its stake in Gilead Sciences by 11.9% in the second quarter. Lazari Capital Management Inc. now owns 22,995 shares of the biopharmaceutical company’s stock worth $1,578,000 after acquiring an additional 2,448 shares during the period. Sanctuary Advisors LLC bought a new stake in Gilead Sciences in the second quarter valued at $9,312,000. Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences during the 2nd quarter valued at $33,000. Finally, Cetera Investment Advisers raised its holdings in Gilead Sciences by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 217,702 shares of the biopharmaceutical company’s stock worth $14,937,000 after purchasing an additional 3,801 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

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.