Gilead Sciences’ (GILD) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Gilead Sciences (NASDAQ:GILD) in a report issued on Monday, Benzinga reports. The firm currently has a $74.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on the stock. Maxim Group decreased their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a report on Wednesday, May 1st. Morgan Stanley decreased their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research note on Friday, April 26th. HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 price target for the company in a report on Wednesday, April 24th. UBS Group decreased their target price on Gilead Sciences from $81.00 to $75.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Finally, StockNews.com raised Gilead Sciences from a buy rating to a strong-buy rating in a research report on Saturday, April 27th. Twelve equities 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 company. According to MarketBeat, Gilead Sciences currently has a consensus rating of Hold and a consensus target price of $83.47.

Gilead Sciences Stock Down 2.6 %

Shares of NASDAQ:GILD opened at $66.59 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The business has a 50 day simple moving average of $66.03 and a two-hundred day simple moving average of $72.29. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $87.86. The firm has a market capitalization of $82.96 billion, a PE ratio of 184.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company 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 company posted $1.37 EPS. Gilead Sciences’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Gilead Sciences will post 3.75 EPS for the current year.

Gilead Sciences Announces Dividend

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

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% of the company’s stock.

Institutional Trading of Gilead Sciences

Large investors have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at $896,000. Truist Financial Corp raised its stake in shares of Gilead Sciences by 1.4% in the third quarter. Truist Financial Corp now owns 573,445 shares of the biopharmaceutical company’s stock worth $42,974,000 after purchasing an additional 7,890 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Gilead Sciences by 61.5% in the third quarter. Axxcess Wealth Management LLC now owns 14,899 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 5,674 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Gilead Sciences by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 1,703,783 shares of the biopharmaceutical company’s stock worth $127,675,000 after purchasing an additional 115,189 shares during the period. Finally, EHP Funds Inc. boosted its position in Gilead Sciences by 20.6% in the third quarter. EHP Funds Inc. now owns 14,900 shares of the biopharmaceutical company’s stock valued at $1,117,000 after buying an additional 2,550 shares during the last quarter. Hedge funds and other institutional investors 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.