Gilead Sciences Inc. (NASDAQ:GILD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Gilead reported mixed results for the third quarter of 2016. The company’s earnings missed expectations, while it managed to beat revenues marginally. Moreover, both earnings and revenues declined year over year. The HCV franchise sales also came in weaker than expected, especially due to sales decline of both Harvoni and Sovaldi. The company also revealed quite a few setbacks related to its pipeline on the earnings call. Nevertheless, Gilead has maintained its outlook for 2016. The newly launched HCV drug Epclusa’s uptake has been impressive. Gilead is working on driving HCV sales by creating disease awareness through educational campaigns. HIV franchise’s performance was encouraging, with sales coming in higher than expected, thanks to the newly launched TAF-based products Genvoya, Descovy and Odefsey. Meanwhile, we may see activities on the merger & acquisitions front at the company going ahead, given the management hints.”
Several other research analysts also recently commented on the company. Maxim Group reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Sunday, November 6th. Barclays PLC reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Gilead Sciences in a research report on Friday, November 4th. Piper Jaffray Cos. restated an “overweight” rating and set a $102.00 price objective on shares of Gilead Sciences in a research report on Thursday, November 3rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $101.00 price objective (down from $115.00) on shares of Gilead Sciences in a research report on Thursday, November 3rd. Finally, RBC Capital Markets lowered their price objective on Gilead Sciences from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 2nd. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Gilead Sciences has an average rating of “Buy” and an average target price of $97.90.
Gilead Sciences (NASDAQ:GILD) traded up 0.19% during midday trading on Monday, reaching $75.44. The company’s stock had a trading volume of 3,068,606 shares. Gilead Sciences has a 1-year low of $71.39 and a 1-year high of $108.31. The firm has a market capitalization of $99.39 billion, a PE ratio of 6.98 and a beta of 1.25. The firm has a 50 day moving average price of $74.56 and a 200 day moving average price of $80.20.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported $2.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.87 by $0.12. The business earned $7.40 billion during the quarter, compared to the consensus estimate of $7.47 billion. Gilead Sciences had a return on equity of 100.57% and a net margin of 47.74%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.22 earnings per share. On average, analysts predict that Gilead Sciences will post $11.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.49%. Gilead Sciences’s payout ratio is 17.44%.
In other news, insider John F. Milligan sold 70,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $77.74, for a total transaction of $5,441,800.00. Following the transaction, the insider now owns 1,128,963 shares in the company, valued at $87,765,583.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John W. Madigan sold 105,000 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $74.86, for a total value of $7,860,300.00. Following the transaction, the director now owns 121,761 shares in the company, valued at approximately $9,115,028.46. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Baker Avenue Asset Management LP raised its position in shares of Gilead Sciences by 1.1% in the first quarter. Baker Avenue Asset Management LP now owns 29,514 shares of the biopharmaceutical company’s stock worth $2,711,000 after buying an additional 311 shares during the period. Sentry Investments Corp. purchased a new position in shares of Gilead Sciences during the first quarter worth $17,711,000. Riverhead Capital Management LLC raised its position in shares of Gilead Sciences by 84.2% in the first quarter. Riverhead Capital Management LLC now owns 756,049 shares of the biopharmaceutical company’s stock worth $69,450,000 after buying an additional 345,518 shares during the period. Glovista Investments LLC raised its position in shares of Gilead Sciences by 46.0% in the first quarter. Glovista Investments LLC now owns 8,485 shares of the biopharmaceutical company’s stock worth $779,000 after buying an additional 2,675 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Gilead Sciences by 7.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 521,438 shares of the biopharmaceutical company’s stock worth $47,899,000 after buying an additional 34,813 shares during the period. Institutional investors own 76.65% of the company’s stock.
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.