Zacks Investment Research lowered shares of Gilead Sciences (NASDAQ:GILD) from a hold rating to a sell rating in a report released on Thursday, January 18th.
According to Zacks, “Gilead’s HCV franchise is under tremendous pressure due to lower patient starts and increasing competition. Higher discounts and payer mix continue to hurt sales. Sales are expected to decline further. Moreover, Gilead has lost exclusivity for Viread and Truvada. Meanwhile, the HIV franchise maintains momentum driven by the rapid adoption of TAF-based regimens in the United States and EU. The TAF-based regimens now represent 56% of total Gilead HIV prescription volume following the launch of Genvoya and the launches of Odefsey and Descovy in 2016. However, Gilead also faces competition from generic HIV products which should impact sales. Nevertheless, the acquisition of Kite and the subsequent approval of Yescarta bodes well for Gilead given the potential in the CAR T therapy. Shares of the company have outperformed the industry in the last six months.”
A number of other equities analysts also recently commented on the company. Leerink Swann raised their price objective on Gilead Sciences from $84.00 to $85.00 and gave the stock a market perform rating in a report on Thursday, October 19th. Maxim Group restated a hold rating on shares of Gilead Sciences in a report on Thursday, October 19th. Mizuho raised their price objective on Gilead Sciences from $77.00 to $83.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Vetr downgraded Gilead Sciences from a strong-buy rating to a buy rating and set a $90.00 target price on the stock. in a report on Wednesday, January 17th. Finally, CIBC started coverage on Gilead Sciences in a report on Thursday, October 5th. They set a market perform rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $87.04.
Shares of Gilead Sciences (GILD) opened at $80.14 on Thursday. Gilead Sciences has a 52 week low of $63.76 and a 52 week high of $89.54. The company has a market capitalization of $104,660.00, a price-to-earnings ratio of 23.03, a P/E/G ratio of -1.77 and a beta of 1.22. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.48 and a current ratio of 3.55.
Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.11. Gilead Sciences had a return on equity of 50.29% and a net margin of 17.73%. The firm had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the business posted $2.70 earnings per share. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. research analysts expect that Gilead Sciences will post 6.41 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be given a $0.57 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, March 15th. This represents a $2.28 annualized dividend and a dividend yield of 2.85%. Gilead Sciences’s dividend payout ratio (DPR) is presently 59.77%.
In related news, EVP Gregg H. Alton sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $74.64, for a total value of $1,119,600.00. Following the sale, the executive vice president now owns 70,988 shares of the company’s stock, valued at approximately $5,298,544.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregg H. Alton sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $79.00, for a total value of $2,370,000.00. Following the completion of the sale, the executive vice president now directly owns 57,114 shares in the company, valued at approximately $4,512,006. The disclosure for this sale can be found here. In the last three months, insiders sold 358,333 shares of company stock worth $28,066,908. Company insiders own 1.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GILD. Capital International Investors grew its holdings in shares of Gilead Sciences by 86.6% in the 3rd quarter. Capital International Investors now owns 11,217,015 shares of the biopharmaceutical company’s stock worth $908,803,000 after acquiring an additional 5,205,983 shares during the last quarter. Sanders Capital LLC grew its holdings in shares of Gilead Sciences by 102.9% in the 4th quarter. Sanders Capital LLC now owns 9,910,493 shares of the biopharmaceutical company’s stock worth $757,119,000 after acquiring an additional 5,026,015 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Gilead Sciences by 230.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,927,585 shares of the biopharmaceutical company’s stock worth $399,233,000 after acquiring an additional 3,434,450 shares during the last quarter. CI Global Investments Inc. grew its holdings in shares of Gilead Sciences by 5,461.1% in the 4th quarter. CI Global Investments Inc. now owns 3,317,627 shares of the biopharmaceutical company’s stock worth $237,675,000 after acquiring an additional 3,257,969 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Gilead Sciences by 12,545.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,070,327 shares of the biopharmaceutical company’s stock worth $219,958,000 after acquiring an additional 3,046,047 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.
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Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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