Citigroup Upgrades Gilead Sciences (NASDAQ:GILD) to Strong-Buy

Citigroup upgraded shares of Gilead Sciences (NASDAQ:GILD) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on GILD. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Cantor Fitzgerald increased their price target on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer increased their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $93.86.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $88.40 on Wednesday. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 0.82. The business’s fifty day moving average price is $86.68 and its two-hundred day moving average price is $75.96. The firm has a market capitalization of $110.17 billion, a PE ratio of 982.22, a P/E/G ratio of 2.85 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last issued 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 return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts expect that Gilead Sciences will post 4.39 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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 $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,947 shares of company stock valued at $4,968,674. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Gilead Sciences by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after purchasing an additional 574,421 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Gilead Sciences during the 3rd quarter worth about $1,275,000. M&T Bank Corp raised its stake in shares of Gilead Sciences by 3.2% during the 3rd quarter. M&T Bank Corp now owns 192,952 shares of the biopharmaceutical company’s stock worth $16,177,000 after purchasing an additional 5,943 shares in the last quarter. Executive Wealth Management LLC purchased a new stake in shares of Gilead Sciences during the 3rd quarter worth about $222,000. Finally, LRI Investments LLC raised its stake in shares of Gilead Sciences by 289.9% during the 3rd quarter. LRI Investments LLC now owns 811 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 603 shares in the last quarter. 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.