Gilead Sciences (NASDAQ:GILD) Cut to Hold at Maxim Group

Maxim Group cut shares of Gilead Sciences (NASDAQ:GILD) from a buy rating to a hold rating in a research report report published on Friday, MarketBeat.com reports.

Several other research analysts also recently commented on GILD. BMO Capital Markets boosted their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial increased their target price on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Oppenheimer lifted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group increased their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Barclays raised their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $96.57 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 0.95. The business’s fifty day moving average price is $85.30 and its two-hundred day moving average price is $75.15. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $98.32. The stock has a market capitalization of $120.23 billion, a price-to-earnings ratio of 1,073.00, a price-to-earnings-growth ratio of 3.36 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that Gilead Sciences will post 4.34 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.19%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,437 shares of company stock valued at $5,374,825 in the last ninety days. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in GILD. Avior Wealth Management LLC boosted its position in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 108 shares during the last quarter. Concord Asset Management LLC VA grew its position in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 111 shares in the last quarter. TFB Advisors LLC increased its stake in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 117 shares in the last quarter. Finally, FDx Advisors Inc. grew its holdings in shares of Gilead Sciences by 2.2% in the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 117 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Company Profile

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.