Mizuho Issues Positive Forecast for Gilead Sciences (NASDAQ:GILD) Stock Price

Gilead Sciences (NASDAQ:GILD) had its price target hoisted by Mizuho from $90.00 to $100.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Stock Up 0.5 %

Shares of NASDAQ:GILD opened at $90.19 on Thursday. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a market capitalization of $112.40 billion, a price-to-earnings ratio of 1,002.11, a PEG ratio of 2.78 and a beta of 0.17. The business has a 50-day moving average price of $87.43 and a 200 day moving average price of $76.95. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. Sell-side analysts expect that Gilead Sciences will post 4.38 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.42%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock valued at $4,968,674 in the last ninety days. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

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