Equitable Holdings Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 6.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 95,179 shares of the biopharmaceutical company’s stock after selling 6,187 shares during the period. Equitable Holdings Inc.’s holdings in Gilead Sciences were worth $12,025,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aviva PLC boosted its holdings in shares of Gilead Sciences by 5.4% during the 4th quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company’s stock valued at $141,978,000 after buying an additional 59,782 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in shares of Gilead Sciences in the 4th quarter worth about $1,418,000. Bank of Nova Scotia bought a new stake in Gilead Sciences during the second quarter worth about $100,056,000. OMERS ADMINISTRATION Corp purchased a new stake in Gilead Sciences in the second quarter worth about $55,754,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in Gilead Sciences by 14.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 106,526 shares of the biopharmaceutical company’s stock worth $13,075,000 after purchasing an additional 13,385 shares during the period. Institutional investors own 83.67% of the company’s stock.
Key Gilead Sciences News
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
Insider Transactions at Gilead Sciences
Analysts Set New Price Targets
GILD has been the subject of several recent research reports. Daiwa Securities Group lowered their target price 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. Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Gilead Sciences in a research note on Wednesday, August 5th. Leerink Partners lowered Gilead Sciences from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $146.00 to $127.00 in a research report on Tuesday, July 21st. Wall Street Zen upgraded Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, HSBC raised Gilead Sciences from a “hold” rating to a “buy” rating and boosted their target price for the stock from $133.00 to $155.00 in a report on Monday, July 6th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $158.04.
View Our Latest Stock Report on GILD
Gilead Sciences Trading Up 0.5%
NASDAQ:GILD opened at $148.86 on Friday. The company’s 50 day moving average price is $133.81 and its 200-day moving average price is $136.55. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The stock has a market cap of $184.58 billion, a price-to-earnings ratio of -55.75 and a beta of 0.32.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. The company had revenue of $7.80 billion during 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 firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 EPS. On average, equities research analysts forecast that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.
Gilead Sciences Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.2%. Gilead Sciences’s dividend payout ratio (DPR) is presently -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.
