Gilead Sciences (NASDAQ:GILD) Stock Price Down 2%

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) dropped 2% during trading on Wednesday . The stock traded as low as $66.95 and last traded at $67.01. Approximately 895,695 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 7,559,873 shares. The stock had previously closed at $68.40.

Analyst Ratings Changes

GILD has been the topic of several research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. UBS Group decreased their price target on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 27th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.47.

Gilead Sciences Trading Down 2.6 %

The company has a market capitalization of $82.96 billion, a PE ratio of 184.97, a price-to-earnings-growth ratio of 2.83 and a beta of 0.18. The stock’s 50 day moving average is $66.06 and its two-hundred day moving average is $72.25. 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 results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, 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 transaction of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Altfest L J & Co. Inc. acquired a new position in Gilead Sciences in the 4th quarter worth approximately $210,000. Federated Hermes Inc. increased its holdings in Gilead Sciences by 4.9% in the 4th quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after buying an additional 175,925 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Gilead Sciences by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after purchasing an additional 87,482 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $74,000. Finally, Eagle Asset Management Inc. grew its stake in shares of Gilead Sciences by 23.6% during the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after purchasing an additional 60,697 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

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.