Short Interest in Gilead Sciences, Inc. (NASDAQ:GILD) Rises By 10.9%

Gilead Sciences, Inc. (NASDAQ:GILD) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 15,523,900 shares, a growth of 10.9% from the June 30th total of 14,001,100 shares. Based on an average trading volume of 6,250,000 shares, the short-interest ratio is currently 2.5 days. Approximately 1.2% of the shares of the stock are sold short.

Several research firms recently commented on GILD. Cowen reissued a “buy” rating on shares of Gilead Sciences in a research note on Friday, May 3rd. Cantor Fitzgerald set a $88.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada raised shares of Gilead Sciences from an “outperform” rating to a “top pick” rating and set a $91.00 target price for the company in a research note on Monday, July 29th. Morgan Stanley set a $82.00 target price on shares of Gilead Sciences and gave the company a “hold” rating in a research note on Monday, July 15th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $85.00 target price on shares of Gilead Sciences in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $82.29.

Shares of NASDAQ:GILD traded up $0.32 during mid-day trading on Friday, hitting $63.19. The stock had a trading volume of 302,380 shares, compared to its average volume of 6,183,219. The company has a debt-to-equity ratio of 1.13, a quick ratio of 3.67 and a current ratio of 3.76. The company has a market cap of $81.43 billion, a PE ratio of 10.26, a P/E/G ratio of 3.05 and a beta of 1.16. Gilead Sciences has a 12-month low of $60.32 and a 12-month high of $79.61. The company’s 50 day moving average is $66.24 and its 200-day moving average is $65.91.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.14. The business had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.54 billion. Gilead Sciences had a net margin of 26.64% and a return on equity of 37.12%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 EPS. On average, equities research analysts predict that Gilead Sciences will post 6.65 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.63 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.52 annualized dividend and a dividend yield of 3.99%. Gilead Sciences’s dividend payout ratio (DPR) is presently 40.98%.

In related news, EVP Brett A. Pletcher sold 5,816 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $68.75, for a total transaction of $399,850.00. Following the completion of the sale, the executive vice president now directly owns 27,198 shares of the company’s stock, valued at $1,869,862.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brett A. Pletcher sold 7,200 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $65.07, for a total transaction of $468,504.00. Following the sale, the executive vice president now directly owns 34,398 shares of the company’s stock, valued at $2,238,277.86. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its position in Gilead Sciences by 1,208.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,847,359 shares of the biopharmaceutical company’s stock worth $665,288,000 after buying an additional 9,094,586 shares in the last quarter. Renaissance Technologies LLC lifted its position in Gilead Sciences by 56.9% in the 2nd quarter. Renaissance Technologies LLC now owns 12,740,248 shares of the biopharmaceutical company’s stock worth $860,731,000 after buying an additional 4,620,000 shares in the last quarter. Invesco Ltd. lifted its position in Gilead Sciences by 17.5% in the 2nd quarter. Invesco Ltd. now owns 22,975,310 shares of the biopharmaceutical company’s stock worth $1,552,213,000 after buying an additional 3,418,193 shares in the last quarter. Marshall Wace North America L.P. lifted its position in Gilead Sciences by 298.3% in the 2nd quarter. Marshall Wace North America L.P. now owns 3,418,196 shares of the biopharmaceutical company’s stock worth $230,934,000 after buying an additional 2,559,972 shares in the last quarter. Finally, Parnassus Investments CA lifted its position in Gilead Sciences by 21.2% in the 1st quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock worth $849,976,000 after buying an additional 2,288,767 shares in the last quarter. Institutional investors and hedge funds own 78.87% of the company’s stock.

About Gilead Sciences

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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