Gilead Sciences (NASDAQ:GILD) Given New $94.00 Price Target at BMO Capital Markets

Gilead Sciences (NASDAQ:GILD) had its target price lifted by BMO Capital Markets from $85.00 to $94.00 in a report released on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the biopharmaceutical company’s stock.

GILD has been the topic of several other research reports. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $78.00 to $100.00 in a research note on Monday, October 7th. Truist Financial raised their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.37.

Gilead Sciences Stock Down 0.7 %

Shares of NASDAQ:GILD opened at $86.72 on Thursday. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $87.86. The stock has a market cap of $108.04 billion, a P/E ratio of 240.89, a PEG ratio of 2.98 and a beta of 0.18. The business has a fifty day moving average of $81.06 and a two-hundred day moving average of $72.82. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

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

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insider Buying and Selling

In other Gilead Sciences news, 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 in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,033,340 in the last ninety days. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in GILD. Sumitomo Life Insurance Co. lifted its position in Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Gilead Sciences by 3.9% during the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock worth $272,000 after purchasing an additional 123 shares during the last quarter. Roberts Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 1.9% during the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock worth $599,000 after purchasing an additional 130 shares during the period. Wagner Wealth Management LLC grew its position in Gilead Sciences by 1.7% in the 3rd quarter. Wagner Wealth Management LLC now owns 8,026 shares of the biopharmaceutical company’s stock valued at $673,000 after buying an additional 135 shares during the last quarter. Finally, Institute for Wealth Management LLC. increased its stake in Gilead Sciences by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors 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.