Credit Suisse Group AG Reaffirms “Outperform” Rating for Gilead Sciences, Inc. (GILD)
Credit Suisse Group AG reissued their outperform rating on shares of Gilead Sciences, Inc. (NASDAQ:GILD) in a research note issued to investors on Wednesday morning. The firm currently has a $79.00 target price on the biopharmaceutical company’s stock.
Several other brokerages have also recently issued reports on GILD. Vetr cut shares of Gilead Sciences from a strong-buy rating to a buy rating and set a $84.73 target price for the company. in a report on Wednesday, January 4th. Leerink Swann reissued a market perform rating and set a $89.00 target price on shares of Gilead Sciences in a report on Tuesday, November 15th. Cowen and Company reissued a buy rating and set a $100.00 target price on shares of Gilead Sciences in a report on Friday, January 6th. Stifel Nicolaus reissued a buy rating and set a $100.00 target price on shares of Gilead Sciences in a report on Wednesday, January 11th. Finally, Jefferies Group LLC reissued a buy rating and set a $91.00 target price on shares of Gilead Sciences in a report on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $83.19.
Shares of Gilead Sciences (NASDAQ:GILD) traded up 0.4588% during mid-day trading on Wednesday, hitting $68.8545. 19,306,689 shares of the stock traded hands. Gilead Sciences has a 12 month low of $65.38 and a 12 month high of $103.10. The company has a market cap of $90.00 billion, a P/E ratio of 6.9270 and a beta of 1.11. The firm has a 50 day moving average of $69.69 and a 200 day moving average of $73.79.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 7th. The biopharmaceutical company reported $2.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $0.09. Gilead Sciences had a net margin of 44.43% and a return on equity of 92.36%. The firm earned $7.30 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter last year, the company posted $3.32 earnings per share. The firm’s revenue was down 13.9% compared to the same quarter last year. Equities analysts anticipate that Gilead Sciences will post $8.24 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 3.01%. Gilead Sciences’s payout ratio is 18.91%.
In other Gilead Sciences news, insider John C. Martin sold 73,337 shares of Gilead Sciences stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $73.59, for a total transaction of $5,396,869.83. Following the transaction, the insider now directly owns 3,204,433 shares of the company’s stock, valued at $235,814,224.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Kempner Capital Management Inc. purchased a new position in shares of Gilead Sciences during the third quarter worth approximately $855,000. West Oak Capital LLC increased its position in shares of Gilead Sciences by 0.7% in the third quarter. West Oak Capital LLC now owns 4,449 shares of the biopharmaceutical company’s stock worth $352,000 after buying an additional 32 shares during the period. Carnick & Kubik Group LLC purchased a new position in shares of Gilead Sciences during the second quarter worth approximately $1,060,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Gilead Sciences during the second quarter worth approximately $4,486,000. Finally, Kentucky Retirement Systems purchased a new position in shares of Gilead Sciences during the second quarter worth approximately $9,448,000. 74.19% of the stock is currently owned by institutional investors.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.
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