Gilead Sciences (NASDAQ:GILD) Sets New 52-Week Low on Analyst Downgrade

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) hit a new 52-week low on Wednesday after UBS Group lowered their price target on the stock from $81.00 to $75.00. UBS Group currently has a neutral rating on the stock. Gilead Sciences traded as low as $67.15 and last traded at $67.45, with a volume of 320010 shares changing hands. The stock had previously closed at $67.31.

Several other research analysts also recently commented on GILD. StockNews.com raised Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th. Wells Fargo & Company dropped their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Monday, March 4th. Truist Financial downgraded Gilead Sciences from a “buy” rating to a “hold” rating and dropped their price target for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Mizuho dropped their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Finally, Cantor Fitzgerald lowered their price objective on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $84.71.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

Institutional Trading of Gilead Sciences

Several institutional investors have recently bought and sold shares of the stock. PCA Investment Advisory Services Inc. acquired a new position in Gilead Sciences in the second quarter worth $25,000. Tompkins Financial Corp boosted its stake in Gilead Sciences by 223.1% in the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in Gilead Sciences in the fourth quarter worth $29,000. OFI Invest Asset Management acquired a new position in Gilead Sciences in the third quarter worth $26,000. Finally, Fortitude Family Office LLC acquired a new position in Gilead Sciences in the fourth quarter worth $29,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Down 1.2 %

The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The company has a market cap of $82.37 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19. The business has a 50 day simple moving average of $72.10 and a 200 day simple moving average of $76.58.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the company earned $1.67 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 6.55 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Thursday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio is 68.44%.

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.