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Robert W. Baird Boosts Gilead Sciences (NASDAQ:GILD) Price Target to $80.00

Defense World · Feb 6, 2023 02:22

Gilead Sciences (NASDAQ:GILD – Get Rating) had its price objective lifted by Robert W. Baird from $69.00 to $80.00 in a research note released on Friday morning, The Fly reports.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group upped their price objective on shares of Gilead Sciences from $78.00 to $86.00 and gave the company a buy rating in a report on Friday, October 28th. Morgan Stanley dropped their price objective on shares of Gilead Sciences from $81.00 to $80.00 and set an equal weight rating on the stock in a report on Tuesday, January 24th. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $63.00 to $72.00 and gave the company a market perform rating in a report on Friday, October 28th. SVB Leerink upped their target price on shares of Gilead Sciences from $68.00 to $81.00 and gave the stock a market perform rating in a report on Tuesday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $80.00 to $87.00 and gave the stock an overweight rating in a report on Friday, October 28th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $88.55.

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Gilead Sciences Stock Performance

Shares of GILD opened at $84.50 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $105.98 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 0.81 and a beta of 0.39. The firm's fifty day simple moving average is $85.76 and its two-hundred day simple moving average is $74.34. Gilead Sciences has a 12 month low of $57.17 and a 12 month high of $89.74.

Gilead Sciences (NASDAQ:GILD – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.17. Gilead Sciences had a net margin of 16.83% and a return on equity of 44.90%. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts predict that Gilead Sciences will post 6.96 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.75 per share. This is an increase from Gilead Sciences's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Tuesday, March 14th. Gilead Sciences's dividend payout ratio is currently 80.00%.

Insider Activity

In other news, CAO Diane E. Wilfong sold 6,416 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $83.50, for a total transaction of $535,736.00. Following the completion of the transaction, the chief accounting officer now directly owns 28,333 shares of the company's stock, valued at approximately $2,365,805.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Retirement Planning Co of New England Inc. boosted its holdings in Gilead Sciences by 1.3% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 10,943 shares of the biopharmaceutical company's stock worth $939,000 after buying an additional 140 shares during the period. Convergence Investment Partners LLC boosted its holdings in Gilead Sciences by 1.7% in the 4th quarter. Convergence Investment Partners LLC now owns 50,943 shares of the biopharmaceutical company's stock worth $4,373,000 after buying an additional 857 shares during the period. Ausdal Financial Partners Inc. boosted its holdings in Gilead Sciences by 3.1% in the 4th quarter. Ausdal Financial Partners Inc. now owns 7,145 shares of the biopharmaceutical company's stock worth $613,000 after buying an additional 217 shares during the period. Peterson Financial Group Inc. bought a new position in Gilead Sciences in the 4th quarter worth approximately $465,000. Finally, Cutter & CO Brokerage Inc. bought a new position in Gilead Sciences in the 4th quarter worth approximately $292,000. 78.72% of the stock is owned by institutional investors.

About Gilead Sciences

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Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm's primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.