Proficio Capital Partners LLC acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,405 shares of the biopharmaceutical company’s stock, valued at approximately $557,000.
Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock valued at $1,326,000 after buying an additional 2,450 shares during the period. Bison Wealth LLC bought a new position in shares of Gilead Sciences during the 4th quarter worth about $215,000. Sivia Capital Partners LLC boosted its position in shares of Gilead Sciences by 16.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company’s stock valued at $464,000 after acquiring an additional 602 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Gilead Sciences by 12.0% during the 2nd quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company’s stock valued at $13,160,000 after acquiring an additional 12,705 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its stake in Gilead Sciences by 18.6% in the second quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company’s stock valued at $516,000 after acquiring an additional 674 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.
Insider Activity
In other news, Director Anthony Welters sold 18,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $148.62, for a total value of $2,675,160.00. Following the completion of the sale, the director directly owned 12,894 shares in the company, valued at approximately $1,916,306.28. This trade represents a 58.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $138.36, for a total value of $415,080.00. Following the completion of the transaction, the chief financial officer directly owned 165,646 shares of the company’s stock, valued at $22,918,780.56. This represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 105,000 shares of company stock worth $14,238,120. 0.30% of the stock is currently owned by insiders.
Key Headlines Impacting Gilead Sciences
- 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
Analyst Ratings Changes
Several research analysts recently issued reports on GILD shares. HSBC raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and increased their price target for the stock from $133.00 to $155.00 in a research report on Monday, July 6th. Wall Street Zen raised Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Morgan Stanley lowered their price objective on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 target price on shares of Gilead Sciences in a report on Wednesday, August 5th. Finally, Daiwa Securities Group cut their target price on Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 19th. Twenty-four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.
View Our Latest Stock Analysis on GILD
Gilead Sciences Trading Up 0.5%
Shares of Gilead Sciences stock opened at $148.86 on Friday. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The stock has a market capitalization of $184.58 billion, a P/E ratio of -55.75 and a beta of 0.32. The company has a 50-day simple moving average of $133.81 and a 200 day simple moving average of $136.55. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 earnings per share. Research analysts expect that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. 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.
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