Gilead Sciences (NASDAQ:GILD) Hits New 12-Month Low at $64.42

Gilead Sciences, Inc. (NASDAQ:GILD) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $64.42 and last traded at $64.68, with a volume of 1154107 shares. The stock had previously closed at $65.33.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research analyst reports. Barclays lowered their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Mizuho dropped their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Royal Bank of Canada dropped their price target on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, UBS Group cut their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.69.

Gilead Sciences Stock Performance

The stock has a 50 day simple moving average of $70.55 and a two-hundred day simple moving average of $75.83. The company has a market capitalization of $80.66 billion, a price-to-earnings ratio of 179.94, a PEG ratio of 1.31 and a beta of 0.22. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.37 EPS. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.74 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s payout ratio is 855.56%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gilead Sciences

Several large investors have recently modified their holdings of GILD. Norges Bank purchased a new stake in Gilead Sciences in the 4th quarter valued at $1,301,624,000. The Manufacturers Life Insurance Company grew its position in Gilead Sciences by 78.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after purchasing an additional 3,362,505 shares during the last quarter. Clearbridge Investments LLC increased its stake in Gilead Sciences by 179.0% in the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock valued at $340,526,000 after purchasing an additional 2,915,141 shares during the period. Wellington Management Group LLP raised its holdings in shares of Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after buying an additional 2,350,550 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of Gilead Sciences by 89.0% during the fourth quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock worth $304,930,000 after buying an additional 1,772,887 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

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, 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.