Gilead Sciences, Inc. (NASDAQ:GILD – Get Free Report) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 18,130,000 shares, a drop of 7.0% from the October 31st total of 19,500,000 shares. Based on an average daily volume of 5,540,000 shares, the days-to-cover ratio is presently 3.3 days.
Insider Activity
In related news, insider Merdad Parsey sold 1,501 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total value of $115,561.99. Following the transaction, the insider now directly owns 70,130 shares of the company’s stock, valued at approximately $5,399,308.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the chief financial officer now owns 104,003 shares in the company, valued at approximately $8,320,240. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 1,501 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total value of $115,561.99. Following the completion of the transaction, the insider now owns 70,130 shares in the company, valued at approximately $5,399,308.70. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
Hedge Funds Weigh In On Gilead Sciences
Several hedge funds and other institutional investors have recently modified their holdings of GILD. PCA Investment Advisory Services Inc. purchased a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in Gilead Sciences in the third quarter worth $26,000. Tompkins Financial Corp raised its holdings 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. Union Savings Bank purchased a new position in Gilead Sciences during the second quarter valued at $29,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 82.33% of the company’s stock.
Gilead Sciences Price Performance
Shares of Gilead Sciences stock opened at $78.34 on Tuesday. The firm has a market cap of $97.61 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.02 and a beta of 0.29. The company’s fifty day simple moving average is $76.79 and its two-hundred day simple moving average is $77.05. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.08. Gilead Sciences has a 12-month low of $72.87 and a 12-month high of $89.74.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.38. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.81 billion. Gilead Sciences had a return on equity of 39.30% and a net margin of 21.45%. Gilead Sciences’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. As a group, equities analysts expect that Gilead Sciences will post 6.75 EPS for the current year.
Gilead Sciences Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be given a $0.75 dividend. The ex-dividend date is Thursday, December 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.83%. Gilead Sciences’s dividend payout ratio is 64.38%.
Analyst Ratings Changes
GILD has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Gilead Sciences from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. HSBC began coverage on Gilead Sciences in a report on Wednesday, September 6th. They issued a “reduce” rating and a $71.00 price target for the company. Truist Financial reiterated a “buy” rating and set a $91.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 6th. Leerink Partnrs restated a “market perform” rating on shares of Gilead Sciences in a research note on Wednesday, October 11th. Finally, Bank of America raised shares of Gilead Sciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $88.00 to $95.00 in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.24.
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.