Gilead Sciences’ (GILD) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Gilead Sciences (NASDAQ:GILD) in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a $105.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on GILD. Truist Financial downgraded shares of Gilead Sciences from a buy rating to a hold rating and reduced their price target for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. Cantor Fitzgerald decreased their target price on Gilead Sciences from $80.00 to $78.00 and set a neutral rating on the stock in a research report on Wednesday, February 7th. StockNews.com upgraded Gilead Sciences from a buy rating to a strong-buy rating in a research report on Tuesday, March 26th. Wells Fargo & Company cut their price target on Gilead Sciences from $84.00 to $77.00 and set an equal weight rating for the company in a research note on Monday, March 4th. Finally, Barclays lowered their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an equal weight rating on the stock in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $84.71.

Gilead Sciences Stock Up 0.9 %

Gilead Sciences stock opened at $66.76 on Friday. The stock’s 50 day moving average price is $71.96 and its 200 day moving average price is $76.57. The company has a market cap of $83.12 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. Gilead Sciences has a 1-year low of $65.90 and a 1-year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.04). The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. Gilead Sciences’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 earnings per share. On average, sell-side analysts predict that Gilead Sciences will post 6.55 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.77 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.61%. Gilead Sciences’s dividend payout ratio is presently 68.44%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. PCA Investment Advisory Services Inc. acquired a new position in Gilead Sciences during the second quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Gilead Sciences during the 3rd quarter worth $26,000. Tompkins Financial Corp raised its position in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 241 shares during the period. Fortitude Family Office LLC acquired a new position in Gilead Sciences in the fourth quarter valued at $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Gilead Sciences during the fourth quarter valued at about $29,000. 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.