Gilead Sciences (NASDAQ:GILD) Trading Down 2%

Gilead Sciences, Inc. (NASDAQ:GILD)’s stock price fell 2% on Wednesday . The company traded as low as $66.95 and last traded at $67.01. 895,695 shares were traded during mid-day trading, a decline of 88% from the average session volume of 7,559,873 shares. The stock had previously closed at $68.40.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a research note on Friday, April 19th. TD Cowen reduced their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Maxim Group reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.47.

Gilead Sciences Stock Down 2.6 %

The business’s 50 day moving average is $66.04 and its 200 day moving average is $72.33. The company has a market cap of $82.96 billion, a P/E ratio of 186.14, a P/E/G ratio of 2.92 and a beta of 0.18. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data 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 net margin of 1.76% and a return on equity of 24.34%. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $0.77 per share. The ex-dividend date was Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.63%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Trading of Gilead Sciences

Institutional investors have recently added to or reduced their stakes in the stock. Modus Advisors LLC grew its position in shares of Gilead Sciences by 10.8% during the second quarter. Modus Advisors LLC now owns 9,810 shares of the biopharmaceutical company’s stock worth $673,000 after buying an additional 960 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Gilead Sciences by 72.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,487 shares of the biopharmaceutical company’s stock valued at $308,000 after purchasing an additional 1,887 shares during the period. GAMMA Investing LLC increased its holdings in shares of Gilead Sciences by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 9,940 shares of the biopharmaceutical company’s stock valued at $682,000 after acquiring an additional 3,567 shares during the period. Abich Financial Wealth Management LLC raised its holdings in shares of Gilead Sciences by 88.4% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the biopharmaceutical company’s stock valued at $163,000 after buying an additional 1,041 shares during the last quarter. Finally, Keynote Financial Services LLC purchased a new position in shares of Gilead Sciences during the first quarter worth about $845,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

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.