Gilead Sciences (NASDAQ:GILD) Price Target Cut to $76.00

Gilead Sciences (NASDAQ:GILD - Free Report) had its price target reduced by Barclays from $80.00 to $76.00 in a research report report published on Monday, Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company's stock.

GILD has been the subject of several other research reports. TD Cowen reduced their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a buy rating for the company in a research note on Friday. Truist Financial lowered shares of Gilead Sciences from a buy rating to a hold rating and dropped their price objective for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Morgan Stanley lowered their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an equal weight rating for the company in a research note on Friday. Oppenheimer reiterated an outperform rating and issued a $105.00 price target on shares of Gilead Sciences in a research report on Friday, April 19th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Gilead Sciences in a research report on Friday. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $83.60.

Gilead Sciences Stock Up 0.8 %

Shares of GILD traded up $0.52 during mid-day trading on Monday, hitting $65.94. The company's stock had a trading volume of 7,838,371 shares, compared to its average volume of 7,481,456. The company's 50-day moving average is $71.16 and its 200-day moving average is $76.17. Gilead Sciences has a 52-week low of $64.63 and a 52-week high of $87.86. The firm has a market capitalization of $82.10 billion, a price-to-earnings ratio of 183.17, a PEG ratio of 1.29 and a beta of 0.19. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.37 earnings per share. On average, equities research analysts forecast that Gilead Sciences will post 3.82 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, June 14th. Gilead Sciences's payout ratio is 855.56%.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total transaction of $146,360.00. Following the sale, the insider now owns 100,936 shares of the company's stock, valued at approximately $7,386,496.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Gilead Sciences

Institutional investors have recently added to or reduced their stakes in the business. Tompkins Financial Corp raised its stake in Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 241 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences during the fourth quarter worth about $29,000. OFI Invest Asset Management bought a new position in Gilead Sciences during the third quarter worth about $26,000. Fortitude Family Office LLC bought a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $29,000. Finally, Sachetta LLC bought a new position in Gilead Sciences in the 4th quarter worth approximately $30,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Company Profile

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.