Gilead Sciences’ (GILD) “Buy” Rating Reiterated at Bank of America

Bank of America reissued their buy rating on shares of Gilead Sciences (NASDAQ:GILD) in a research report report published on Tuesday, Marketbeat.com reports. They currently have a $109.00 price target on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently issued reports on GILD. Citigroup started coverage on Gilead Sciences in a report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price for the company. Truist Financial raised their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets increased their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Gilead Sciences Price Performance

NASDAQ GILD opened at $92.38 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a market capitalization of $115.13 billion, a P/E ratio of 1,026.44, a price-to-earnings-growth ratio of 2.86 and a beta of 0.18. The stock has a fifty day moving average of $89.65 and a 200-day moving average of $79.17. Gilead Sciences has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter last year, the business earned $2.29 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Gilead Sciences will post 4.37 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This represents a 64.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 447,234 shares of company stock valued at $41,288,086. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Gilead Sciences during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC lifted its position in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences during the second quarter valued at approximately $33,000. 83.67% of the stock is currently 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, 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.