Gilead Sciences (GILD) Trading Down 5.4%

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Shares of Gilead Sciences, Inc. (NASDAQ:GILD) dropped 5.4% during mid-day trading on Wednesday . The stock traded as low as $67.23 and last traded at $68.18. Approximately 17,201,461 shares were traded during trading, an increase of 134% from the average daily volume of 7,364,147 shares. The stock had previously closed at $72.04.

GILD has been the topic of several recent research reports. ValuEngine upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. BidaskClub upgraded shares of Gilead Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Zacks Investment Research upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Wednesday, July 18th. Robert W. Baird cut shares of Gilead Sciences from an “outperform” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research report on Thursday, July 26th. Finally, Wells Fargo & Co upped their target price on shares of Gilead Sciences from $89.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Gilead Sciences has a consensus rating of “Buy” and a consensus price target of $87.84.

The company has a current ratio of 3.47, a quick ratio of 3.39 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $90.41 billion, a price-to-earnings ratio of 7.96, a PEG ratio of -3.58 and a beta of 1.01.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, October 25th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.21. Gilead Sciences had a net margin of 7.12% and a return on equity of 39.32%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the company posted $2.27 EPS. On average, analysts anticipate that Gilead Sciences, Inc. will post 6.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 26.64%.

In related news, Director John C. Martin sold 50,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $78.04, for a total value of $3,902,000.00. Following the sale, the director now directly owns 3,067,762 shares of the company’s stock, valued at approximately $239,408,146.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.16% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake in Gilead Sciences by 11.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,936,970 shares of the biopharmaceutical company’s stock worth $2,191,575,000 after acquiring an additional 3,221,439 shares in the last quarter. Northern Trust Corp grew its stake in Gilead Sciences by 2.0% in the 2nd quarter. Northern Trust Corp now owns 16,823,192 shares of the biopharmaceutical company’s stock worth $1,191,754,000 after acquiring an additional 325,246 shares in the last quarter. Sanders Capital LLC grew its stake in Gilead Sciences by 7.0% in the 2nd quarter. Sanders Capital LLC now owns 10,579,575 shares of the biopharmaceutical company’s stock worth $804,126,000 after acquiring an additional 696,200 shares in the last quarter. Boston Partners grew its stake in Gilead Sciences by 3.1% in the 2nd quarter. Boston Partners now owns 8,290,507 shares of the biopharmaceutical company’s stock worth $587,300,000 after acquiring an additional 245,805 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its stake in Gilead Sciences by 0.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 7,038,387 shares of the biopharmaceutical company’s stock worth $498,599,000 after acquiring an additional 22,916 shares in the last quarter. Institutional investors and hedge funds own 78.23% of the company’s stock.

About Gilead Sciences (NASDAQ:GILD)

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, and Tybost for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, Sovaldi, Viread, and Hepsera products for treating liver diseases.

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