Gilead Sciences (NASDAQ:GILD) Given New $85.00 Price Target at TD Cowen

Gilead Sciences (NASDAQ:GILD) had its price target decreased by TD Cowen from $90.00 to $85.00 in a report released on Friday, Benzinga reports. TD Cowen currently has a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also commented on GILD. Wells Fargo & Company decreased their price target 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. Royal Bank of Canada decreased their price target on shares of Gilead Sciences from $76.00 to $74.00 and set a sector perform rating for the company in a report on Friday. Needham & Company LLC reiterated a hold rating on shares of Gilead Sciences in a research report on Friday. Truist Financial downgraded shares of Gilead Sciences from a buy rating to a hold rating and cut their price objective for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. Finally, UBS Group cut their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a neutral rating on the stock in a research report on Wednesday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $83.87.

Gilead Sciences Price Performance

Shares of GILD stock opened at $65.42 on Friday. Gilead Sciences has a 1-year low of $64.63 and a 1-year high of $87.86. The firm has a fifty day moving average of $71.28 and a two-hundred day moving average of $76.25. 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 firm has a market cap of $81.45 billion, a P/E ratio of 181.72, a P/E/G ratio of 1.17 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted 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. Gilead Sciences had a net margin of 1.76% and a return on equity of 23.08%. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period in the previous year, the business posted $1.37 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Gilead Sciences will post 4.2 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.71%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Institutional Trading of Gilead Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new stake in Gilead Sciences during the third quarter valued at approximately $26,000. Tompkins Financial Corp lifted 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 purchasing an additional 241 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Gilead Sciences during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences during the fourth quarter valued at approximately $29,000. Finally, Sachetta LLC acquired a new stake in Gilead Sciences during the fourth quarter valued at approximately $30,000. 83.67% of the stock is 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.