Empowered Funds LLC lifted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 15.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 225,845 shares of the biopharmaceutical company’s stock after buying an additional 30,382 shares during the quarter. Empowered Funds LLC’s holdings in Gilead Sciences were worth $28,533,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Persistent Asset Partners Ltd bought a new stake in shares of Gilead Sciences in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Gilead Sciences by 71.4% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 85 shares during the last quarter. Quattro Advisors LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at about $26,000. Finally, Wealth Preservation Advisors LLC boosted its stake in shares of Gilead Sciences by 60.0% in the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GILD. Rothschild & Co Redburn dropped their price target on Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Maxim Group upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Wednesday, May 20th. Truist Financial decreased their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Daiwa Securities Group lowered their price target on shares of Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating for the company in a report on Tuesday, May 19th. Finally, Morgan Stanley dropped their price target on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Twenty-four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.04.
Trending Headlines about Gilead Sciences
Here are the key news stories impacting Gilead Sciences this week:
- Positive Sentiment: The U.S. Food and Drug Administration approved Bixlenvo, Gilead’s once-daily single-tablet HIV regimen combining bictegravir and lenacapavir. It is the first and only single-tablet option for virologically suppressed adults on complex treatment regimens who cannot use currently available alternatives. The approval could broaden Gilead’s HIV franchise and supports its strategy of using lenacapavir in long-term HIV treatment and prevention. Reuters FDA approval article
- Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients. The label expansion strengthens Gilead’s oncology franchise and provides another potential source of revenue growth beyond its core HIV business. EU Trodelvy approval article
- Positive Sentiment: Recent investor commentary points to continued optimism around Gilead’s HIV prevention medicines, including the potential growth of its PrEP portfolio. Analysts and investors also view the stock as potentially undervalued relative to its fundamentals despite a strong five-year performance, which may support further interest. Gilead HIV catalyst article
- Neutral Sentiment: Gilead will present at the Wells Fargo, Cantor and Morgan Stanley healthcare conferences in September. These events could provide updates on Bixlenvo, HIV prevention, Trodelvy and the broader pipeline, but they do not create an immediate change to financial results. Gilead investor conferences announcement
- Negative Sentiment: Director Anthony Welters sold 18,000 shares worth approximately $2.68 million, reducing his holdings by about 58%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than a discretionary insider sale, but it may still modestly weigh on sentiment. SEC insider transaction filing
Insiders Place Their Bets
In other news, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the transaction, the director directly owned 10,066 shares of the company’s stock, valued at $1,459,771.32. This represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total value of $1,954,650.00. Following the completion of the transaction, the chief executive officer owned 592,133 shares in the company, valued at approximately $77,160,851.23. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 105,000 shares of company stock valued at $14,238,120. 0.30% of the stock is currently owned by corporate insiders.
Gilead Sciences Trading Up 0.5%
GILD opened at $148.86 on Friday. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The company has a market cap of $184.58 billion, a P/E ratio of -55.75 and a beta of 0.32. The company has a fifty day moving average price of $133.81 and a two-hundred day moving average price of $136.55.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. The company had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 EPS. Analysts predict that Gilead Sciences, Inc. will post -0.5 EPS for the current fiscal year.
Gilead Sciences Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio is -122.85%.
Gilead Sciences Profile
Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.
Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.
Read More
- Five stocks we like better than Gilead Sciences
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD – Free Report).
Receive News & Ratings for Gilead Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gilead Sciences and related companies with MarketBeat.com's FREE daily email newsletter.
