Key Points
- EVP Wettan Keeley Cain sold 3,399 shares for about $557,810 at an average price of $164.11 under a pre-arranged Rule 10b5-1 plan, reducing the executive’s stake by 38.81% to 5,360 shares.
- Gilead reported quarterly earnings of $2.55 per share, beating the $2.19 consensus estimate, while revenue of $8.30 billion also exceeded expectations and rose 6.8% year over year.
- Analysts’ consensus rating was “Moderate Buy,” with an average price target of $170.15; 23 analysts rated the stock Buy and six rated it Hold.
Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report) EVP Wettan Keeley Cain sold 3,399 shares of the company's stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $164.11, for a total value of $557,809.89. Following the transaction, the executive vice president owned 5,360 shares of the company's stock, valued at approximately $879,629.60. This represents a 38.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Gilead Sciences Stock Performance
Shares of GILD stock opened at $169.32 on Tuesday. The stock has a fifty day moving average of $153.51 and a 200 day moving average of $141.14. Gilead Sciences, Inc. has a 52 week low of $116.88 and a 52 week high of $176.58. The firm has a market capitalization of $210.01 billion, a price-to-earnings ratio of -53.58 and a beta of 0.35. The company has a quick ratio of 0.95, a current ratio of 1.38 and a debt-to-equity ratio of 1.84.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.36. The business had revenue of $8.30 billion for the quarter, compared to analysts' expectations of $7.81 billion. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.47 earnings per share. As a group, research analysts expect that Gilead Sciences, Inc. will post -1.07 earnings per share for the current year.
Gilead Sciences Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 15th. Gilead Sciences's dividend payout ratio (DPR) is currently -103.80%.
Institutional Trading of Gilead Sciences
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BCS Private Wealth Management Inc. purchased a new position in Gilead Sciences during the third quarter valued at $222,000. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Gilead Sciences by 4.0% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,931 shares of the biopharmaceutical company's stock worth $1,182,000 after acquiring an additional 306 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in Gilead Sciences by 4.1% in the third quarter. Silver Oak Securities Incorporated now owns 3,790 shares of the biopharmaceutical company's stock worth $565,000 after acquiring an additional 149 shares in the last quarter. Heritage Trust Co boosted its holdings in Gilead Sciences by 3.7% in the third quarter. Heritage Trust Co now owns 45,736 shares of the biopharmaceutical company's stock worth $6,817,000 after acquiring an additional 1,623 shares in the last quarter. Finally, Wall Street Financial Group Inc. boosted its holdings in Gilead Sciences by 4.3% in the third quarter. Wall Street Financial Group Inc. now owns 2,662 shares of the biopharmaceutical company's stock worth $397,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on GILD shares. JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $170.00 to $190.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Morgan Stanley increased their price target on shares of Gilead Sciences from $163.00 to $183.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Royal Bank Of Canada raised their price objective on shares of Gilead Sciences from $126.00 to $131.00 and gave the stock a "sector perform" rating in a report on Friday, October 30th. Wells Fargo & Company lifted their price objective on Gilead Sciences from $165.00 to $190.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Finally, HSBC lifted their price objective on Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. Twenty-three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average price target of $170.15.
Read Our Latest Research Report on GILD
Gilead Sciences Company Profile
(
Get Free Report)
Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C.
Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
