Traders Buy Shares of Gilead Sciences (GILD) on Weakness Following Insider Selling

Investors purchased shares of Gilead Sciences, Inc. (NASDAQ:GILD) on weakness during trading on Wednesday following insider selling activity. $142.68 million flowed into the stock on the tick-up and $86.52 million flowed out of the stock on the tick-down, for a money net flow of $56.16 million into the stock. Of all equities tracked, Gilead Sciences had the 15th highest net in-flow for the day. Gilead Sciences traded down ($0.25) for the day and closed at $80.69Specifically, Chairman John C. Martin sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $83.56, for a total transaction of $4,178,000.00. Following the transaction, the chairman now owns 3,046,766 shares of the company’s stock, valued at approximately $254,587,766.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregg H. Alton sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $83.51, for a total transaction of $2,087,750.00. Following the transaction, the executive vice president now directly owns 62,738 shares in the company, valued at approximately $5,239,250.38. The disclosure for this sale can be found here. Insiders have sold a total of 432,768 shares of company stock worth $33,919,138 in the last three months. Insiders own 1.30% of the company’s stock.

A number of research analysts have commented on GILD shares. Mizuho raised their target price on shares of Gilead Sciences from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. JPMorgan Chase & Co. set a $85.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Maxim Group set a $94.00 price objective on shares of Gilead Sciences and gave the stock a “buy” rating in a research report on Monday, December 11th. Credit Suisse Group reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Gilead Sciences in a research report on Thursday, December 7th. Finally, Vetr downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating and set a $90.00 price objective on the stock. in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $87.04.

The company has a market capitalization of $105,380.00, a P/E ratio of 10.51, a P/E/G ratio of -1.85 and a beta of 1.22. The company has a quick ratio of 3.48, a current ratio of 3.55 and a debt-to-equity ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.67 by $0.11. Gilead Sciences had a net margin of 17.73% and a return on equity of 50.29%. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the business posted $2.70 EPS. The business’s quarterly revenue was down 18.7% compared to the same quarter last year. sell-side analysts predict that Gilead Sciences, Inc. will post 6.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, March 15th. Gilead Sciences’s payout ratio is presently 27.08%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB lifted its stake in Gilead Sciences by 6.4% during the 4th quarter. Xact Kapitalforvaltning AB now owns 249,991 shares of the biopharmaceutical company’s stock valued at $17,909,000 after acquiring an additional 15,072 shares during the period. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in Gilead Sciences during the 4th quarter valued at approximately $265,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Gilead Sciences by 3.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 742,048 shares of the biopharmaceutical company’s stock valued at $53,160,000 after acquiring an additional 23,719 shares during the period. Griffin Asset Management Inc. lifted its stake in Gilead Sciences by 2.5% during the 4th quarter. Griffin Asset Management Inc. now owns 27,160 shares of the biopharmaceutical company’s stock valued at $1,946,000 after acquiring an additional 650 shares during the period. Finally, Delek Group Ltd. acquired a new stake in Gilead Sciences during the 4th quarter valued at approximately $15,638,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

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About Gilead Sciences

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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