Gilead Sciences (NASDAQ:GILD) Reaches New 52-Week Low at $65.61

Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $65.61 and last traded at $65.83, with a volume of 1858080 shares. The stock had previously closed at $67.08.

Analyst Upgrades and Downgrades

GILD has been the subject of several analyst reports. StockNews.com lowered shares of Gilead Sciences from a "strong-buy" rating to a "buy" rating in a report on Friday, April 19th. Cantor Fitzgerald decreased their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company decreased their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an "equal weight" rating for the company in a report on Monday, March 4th. Mizuho decreased their price objective on shares of Gilead Sciences from $101.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Finally, Royal Bank of Canada decreased their price objective on shares of Gilead Sciences from $76.00 to $75.00 and set a "sector perform" rating for the company in a report on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $84.57.

Gilead Sciences Stock Performance

The business's 50-day moving average price is $71.40 and its 200-day moving average price is $76.32. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. The stock has a market cap of $81.27 billion, a PE ratio of 14.50, a P/E/G ratio of 0.96 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 5.24 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.72%. The ex-dividend date was Thursday, March 14th. This is an increase from Gilead Sciences's previous quarterly dividend of $0.75. Gilead Sciences's payout ratio is currently 68.44%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now owns 96,304 shares of the company's stock, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Institutional Trading of Gilead Sciences

Several institutional investors and hedge funds have recently bought and sold shares of GILD. Norges Bank acquired a new stake in Gilead Sciences during the 4th quarter valued at approximately $1,301,624,000. The Manufacturers Life Insurance Company lifted its stake in shares of Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company's stock valued at $618,268,000 after purchasing an additional 3,362,505 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Gilead Sciences by 179.0% in the 3rd quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company's stock valued at $340,526,000 after purchasing an additional 2,915,141 shares during the period. Wellington Management Group LLP lifted its stake in shares of Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company's stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, abrdn plc lifted its stake in shares of Gilead Sciences by 89.0% in the 4th quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company's stock valued at $304,930,000 after purchasing an additional 1,772,887 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

About Gilead Sciences

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.