State of Michigan Retirement System boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 372,243 shares of the biopharmaceutical company’s stock after buying an additional 1,500 shares during the period. State of Michigan Retirement System’s holdings in Gilead Sciences were worth $30,885,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Legacy Bridge LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth about $30,000. Heritage Wealth Management LLC raised its holdings in shares of Gilead Sciences by 54.6% during the 4th quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 130 shares during the period. Concord Wealth Partners purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Gilead Sciences during the 4th quarter valued at about $33,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Gilead Sciences by 187.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 403 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 263 shares during the period. 81.59% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Gilead Sciences
In other Gilead Sciences news, insider Merdad Parsey sold 1,485 shares of Gilead Sciences stock in a transaction 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 approximately $2,261,013.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.
Gilead Sciences Stock Performance
NASDAQ:GILD traded up $0.48 during midday trading on Friday, reaching $77.19. 6,072,293 shares of the company traded hands, compared to its average volume of 4,895,320. Gilead Sciences, Inc. has a twelve month low of $59.27 and a twelve month high of $89.74. The firm has a market capitalization of $96.28 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.89 and a beta of 0.38. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.13. The company has a fifty day moving average price of $77.48 and a 200 day moving average price of $81.09.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $6.33 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts expect that Gilead Sciences, Inc. will post 6.71 EPS for the current fiscal year.
Gilead Sciences Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.89%. The ex-dividend date was Wednesday, June 14th. Gilead Sciences’s payout ratio is currently 67.72%.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. BMO Capital Markets upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $90.00 to $100.00 in a report on Tuesday, May 16th. StockNews.com initiated coverage on Gilead Sciences in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Morgan Stanley raised their price objective on Gilead Sciences from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 12th. Finally, Barclays lowered their price objective on Gilead Sciences from $84.00 to $81.00 in a research note on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.95.
Gilead Sciences 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.
See Also
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