Barclays Trims Gilead Sciences (NASDAQ:GILD) Target Price to $76.00

Gilead Sciences (NASDAQ:GILD) had its price objective lowered by Barclays from $80.00 to $76.00 in a research report released on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on GILD. Truist Financial cut shares of Gilead Sciences from a buy rating to a hold rating and reduced their target price for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. UBS Group decreased their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald dropped their price target on Gilead Sciences from $80.00 to $78.00 and set a neutral rating for the company in a research report on Wednesday, February 7th. Morgan Stanley reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Finally, HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 target price for the company in a report on Wednesday, April 24th. Eleven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $83.69.

Gilead Sciences Stock Up 0.5 %

GILD opened at $65.51 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.98 and a debt-to-equity ratio of 1.08. Gilead Sciences has a twelve month low of $64.63 and a twelve month high of $87.86. The company has a market cap of $81.57 billion, a PE ratio of 181.97, a price-to-earnings-growth ratio of 1.30 and a beta of 0.19. The company has a 50-day moving average price of $70.87 and a 200 day moving average price of $76.01.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter last year, the business posted $1.37 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Gilead Sciences will post 3.79 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.70%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in shares of Gilead Sciences in the 3rd quarter valued at approximately $26,000. Tompkins Financial Corp grew its stake in shares of Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Gilead Sciences in the fourth quarter valued at $29,000. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $29,000. Finally, Palisade Asset Management LLC purchased a new stake in Gilead Sciences during the 1st quarter worth 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.