Gilead Sciences’ (GILD) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Gilead Sciences (NASDAQ:GILD) in a research report released on Wednesday morning, Benzinga reports. They currently have a $95.00 price objective on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Evercore ISI raised Gilead Sciences to a strong-buy rating in a report on Friday, August 9th. Robert W. Baird reissued a neutral rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. Raymond James raised Gilead Sciences from a market perform rating to an outperform rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. Needham & Company LLC reissued a hold rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Finally, Cantor Fitzgerald reissued a neutral rating and issued a $70.00 price target on shares of Gilead Sciences in a research note on Monday, September 9th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $82.06.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $82.81 on Wednesday. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm’s 50-day simple moving average is $75.48 and its 200 day simple moving average is $70.87. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The stock has a market cap of $103.10 billion, a P/E ratio of 230.03, a P/E/G ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Equities analysts expect that Gilead Sciences will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.72%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction 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 transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Gilead Sciences in the second quarter valued at $25,328,000. Eagle Asset Management Inc. raised its stake in shares of Gilead Sciences by 23.6% in the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after purchasing an additional 60,697 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Gilead Sciences in the first quarter valued at $462,000. Brookstone Capital Management raised its stake in Gilead Sciences by 751.1% during the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock worth $9,322,000 after acquiring an additional 112,305 shares in the last quarter. Finally, Comerica Bank raised its stake in Gilead Sciences by 10.7% during the fourth quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock worth $26,733,000 after acquiring an additional 31,849 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.