Gilead Sciences (NASDAQ:GILD) Lowered to “Hold” Rating by Maxim Group

Maxim Group cut shares of Gilead Sciences (NASDAQ:GILD) from a buy rating to a hold rating in a research report released on Friday morning, MarketBeat Ratings reports.

GILD has been the subject of several other research reports. Barclays lifted their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Gilead Sciences Stock Up 0.5 %

GILD opened at $97.03 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.11 and a quick ratio of 0.95. The company’s 50-day moving average is $85.30 and its 200 day moving average is $75.15. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The firm has a market capitalization of $120.80 billion, a P/E ratio of 1,078.11, a PEG ratio of 3.36 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter last year, the company posted $2.29 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts expect that Gilead Sciences will post 4.34 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were 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 in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Gilead Sciences

Several large investors have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new position in Gilead Sciences during the second quarter valued at approximately $25,328,000. Legal & General Group Plc lifted its holdings in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares in the last quarter. IRON Financial LLC purchased a new position in shares of Gilead Sciences in the third quarter worth $830,000. GSA Capital Partners LLP purchased a new position in shares of Gilead Sciences in the first quarter worth $462,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after buying an additional 33,162 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

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.