Gilead Sciences (NASDAQ:GILD) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Gilead Sciences (NASDAQ:GILD) in a report issued on Monday, Benzinga reports. They currently have a $70.00 price target on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. Truist Financial upped their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a hold rating in a research note on Thursday, August 15th. Robert W. Baird reaffirmed a neutral rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Needham & Company LLC reaffirmed a hold rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Raymond James raised shares of Gilead Sciences from a market perform rating to an outperform rating and set a $93.00 price target on the stock in a research report on Monday, July 8th. Finally, Piper Sandler reissued an overweight rating and set a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $82.06.

Gilead Sciences Price Performance

Shares of GILD stock opened at $83.16 on Monday. Gilead Sciences has a 12-month low of $62.07 and a 12-month high of $87.86. The firm has a market capitalization of $103.53 billion, a price-to-earnings ratio of 231.00, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. 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 firm has a fifty day moving average of $75.79 and a 200-day moving average of $70.92.

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

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.70%. Gilead Sciences’s payout ratio is 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock worth $3,002,940. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Verity & Verity LLC grew its position in shares of Gilead Sciences by 11.1% during the 2nd quarter. Verity & Verity LLC now owns 345,695 shares of the biopharmaceutical company’s stock worth $23,718,000 after purchasing an additional 34,482 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Gilead Sciences by 144.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,165 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 2,462 shares in the last quarter. Lazari Capital Management Inc. grew its position in shares of Gilead Sciences by 11.9% during the 2nd quarter. Lazari Capital Management Inc. now owns 22,995 shares of the biopharmaceutical company’s stock worth $1,578,000 after purchasing an additional 2,448 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $9,312,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $33,000. 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.