Gilead Sciences, Inc. (NASDAQ:GILD – Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 17,340,000 shares, an increase of 6.3% from the June 15th total of 16,320,000 shares. Based on an average daily volume of 5,500,000 shares, the days-to-cover ratio is currently 3.2 days.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. BMO Capital Markets reduced their price objective on shares of Gilead Sciences from $100.00 to $95.00 in a research note on Tuesday. Morgan Stanley upped their target price on Gilead Sciences from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 12th. StockNews.com initiated coverage on shares of Gilead Sciences in a research report on Thursday, May 18th. They set a “strong-buy” rating for the company. Barclays decreased their price target on shares of Gilead Sciences from $84.00 to $81.00 in a research note on Tuesday, July 11th. Finally, Cantor Fitzgerald cut their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.10.
Gilead Sciences Stock Performance
GILD stock opened at $79.94 on Friday. The business has a 50 day moving average of $77.49 and a 200-day moving average of $80.93. The company has a quick ratio of 1.13, a current ratio of 1.28 and a debt-to-equity ratio of 1.10. Gilead Sciences has a 12-month low of $59.27 and a 12-month high of $89.74. The firm has a market cap of $99.71 billion, a PE ratio of 18.05, a P/E/G ratio of 0.90 and a beta of 0.38.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.26). Gilead Sciences had a net margin of 20.65% and a return on equity of 39.35%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the previous year, the company posted $2.12 EPS. Gilead Sciences’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Gilead Sciences will post 6.71 earnings per share for the current year.
Gilead Sciences Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Thursday, June 15th were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.75%. Gilead Sciences’s dividend payout ratio is 67.72%.
Insider Activity
In other news, insider Merdad Parsey sold 1,485 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $76.90, for a total transaction of $114,196.50. Following the sale, the insider now owns 29,402 shares of the company’s stock, valued at $2,261,013.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.
Institutional Investors Weigh In On Gilead Sciences
A number of institutional investors and hedge funds have recently modified their holdings of GILD. Measured Wealth Private Client Group LLC increased its holdings in shares of Gilead Sciences by 18.3% in the second quarter. Measured Wealth Private Client Group LLC now owns 12,453 shares of the biopharmaceutical company’s stock worth $960,000 after purchasing an additional 1,923 shares during the period. Baker Tilly Wealth Management LLC raised its stake in Gilead Sciences by 2.3% in the second quarter. Baker Tilly Wealth Management LLC now owns 5,694 shares of the biopharmaceutical company’s stock valued at $439,000 after purchasing an additional 128 shares in the last quarter. Lazari Capital Management Inc. purchased a new stake in shares of Gilead Sciences during the 2nd quarter valued at $1,582,000. HF Advisory Group LLC lifted its holdings in shares of Gilead Sciences by 21.1% during the 2nd quarter. HF Advisory Group LLC now owns 12,750 shares of the biopharmaceutical company’s stock worth $983,000 after acquiring an additional 2,219 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Gilead Sciences by 98,797.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 394,005,889 shares of the biopharmaceutical company’s stock valued at $30,366,034,000 after acquiring an additional 393,607,491 shares during the last quarter. 81.59% of the stock is owned by hedge funds and other institutional investors.
Gilead Sciences Company Profile
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.
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