Gilead Sciences (NASDAQ:GILD) Reaches New 52-Week High – Here’s Why

Gilead Sciences, Inc. (NASDAQ:GILD)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $111.99 and last traded at $111.03, with a volume of 10491868 shares. The stock had previously closed at $109.95.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GILD shares. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Thursday, February 13th. Maxim Group downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Barclays lifted their target price on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Daiwa America upgraded Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $102.08.

Gilead Sciences Stock Up 1.0 %

The firm has a market cap of $138.37 billion, a P/E ratio of 300.08, a P/E/G ratio of 0.71 and a beta of 0.18. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $95.79 and a 200-day moving average price of $89.08.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.85%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 854.05%.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $104.09, for a total transaction of $260,225.00. Following the completion of the sale, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at approximately $17,597,559.49. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 706,212 shares of company stock worth $67,324,826 over the last 90 days. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

A number of large investors have recently made changes to their positions in the business. Ameriflex Group Inc. purchased a new position in Gilead Sciences during the 4th quarter worth $264,000. Ascent Group LLC raised its stake in Gilead Sciences by 26.6% in the fourth quarter. Ascent Group LLC now owns 21,108 shares of the biopharmaceutical company’s stock valued at $1,950,000 after buying an additional 4,435 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Gilead Sciences in the fourth quarter worth about $65,000. Forum Financial Management LP grew its stake in shares of Gilead Sciences by 26.1% during the fourth quarter. Forum Financial Management LP now owns 23,525 shares of the biopharmaceutical company’s stock worth $2,173,000 after acquiring an additional 4,867 shares during the last quarter. Finally, Griffith & Werner Inc. acquired a new position in shares of Gilead Sciences during the fourth quarter valued at about $1,333,000. 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.