Gilead Sciences (NASDAQ:GILD) Upgraded at Citigroup

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

A number of other equities research analysts also recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Cantor Fitzgerald upped their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.86.

Gilead Sciences Stock Down 4.0 %

Shares of NASDAQ:GILD opened at $88.40 on Wednesday. Gilead Sciences has a 52-week low of $62.07 and a 52-week high of $98.90. The stock has a market cap of $110.17 billion, a P/E ratio of 1,007.67, a PEG ratio of 2.85 and a beta of 0.17. The business has a fifty day moving average of $86.49 and a two-hundred day moving average of $75.81. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period last year, the business earned $2.29 earnings per share. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts expect that Gilead Sciences will post 4.39 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

Insiders Place Their Bets

In related news, 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 value of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently made changes to their positions in the stock. Avior Wealth Management LLC raised its position in Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares in the last quarter. Concord Asset Management LLC VA grew its position in shares of Gilead Sciences by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after acquiring an additional 111 shares during the last quarter. TFB Advisors LLC boosted its stake in shares of Gilead Sciences by 1.2% during the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after buying an additional 116 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in shares of Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after purchasing an additional 117 shares during the period. Finally, FDx Advisors Inc. boosted its stake in shares of Gilead Sciences by 2.2% in the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 117 shares in the last quarter. 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.