Gilead Sciences, Inc. $GILD Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 519,677 shares of the biopharmaceutical company’s stock after selling 46,125 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Gilead Sciences were worth $65,656,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Gilead Sciences by 20.6% during the fourth 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 in the last quarter. Bison Wealth LLC acquired a new position in Gilead Sciences in the 4th quarter valued at approximately $215,000. Sivia Capital Partners LLC boosted its stake 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 buying an additional 602 shares during the period. Ieq Capital LLC grew its holdings 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 grew its holdings in shares of Gilead Sciences by 18.6% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.5%

Shares of NASDAQ:GILD opened at $148.86 on Friday. The company’s 50-day moving average price is $133.81 and its two-hundred day moving average price is $136.55. The firm has a market cap of $184.58 billion, a P/E ratio of -55.75 and a beta of 0.32. Gilead Sciences, Inc. has a 12 month low of $108.46 and a 12 month 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.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping the consensus estimate of ($7.25) by $0.50. The company 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 business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $2.01 earnings per share. As a group, research analysts forecast that Gilead Sciences, Inc. will post -0.5 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid 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 dividend yield of 2.2%. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Wall Street Analysts Forecast Growth

GILD has been the subject of several research reports. Weiss Ratings cut Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Barclays lowered their price objective on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Rothschild & Co Redburn dropped their price target on Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

Key Stories Impacting 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

Insider Buying and Selling

In other news, Director Jeffrey Bluestone sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the sale, the director directly owned 10,066 shares in the company, valued at approximately $1,459,771.32. The trade was a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of Gilead Sciences stock in a transaction dated 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 transaction, the chief executive officer directly owned 592,133 shares in the company, valued at $77,160,851.23. The trade was a 2.47% 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. Insiders sold 105,000 shares of company stock valued at $14,238,120 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

About Gilead Sciences

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.