Kornitzer Capital Management Inc. KS Reduces Stock Position in Gilead Sciences, Inc. $GILD

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 334,476 shares of the biopharmaceutical company’s stock after selling 15,010 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Gilead Sciences were worth $37,127,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GILD. Vanguard Group Inc. boosted its holdings in shares of Gilead Sciences by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 119,364,226 shares of the biopharmaceutical company’s stock valued at $13,233,912,000 after buying an additional 1,893,401 shares in the last quarter. Geode Capital Management LLC lifted its position in Gilead Sciences by 2.6% in the second quarter. Geode Capital Management LLC now owns 29,207,662 shares of the biopharmaceutical company’s stock valued at $3,231,548,000 after acquiring an additional 727,515 shares during the last quarter. Norges Bank acquired a new position in Gilead Sciences in the second quarter valued at $2,150,268,000. Invesco Ltd. grew its holdings in shares of Gilead Sciences by 33.5% during the second quarter. Invesco Ltd. now owns 13,521,228 shares of the biopharmaceutical company’s stock worth $1,499,098,000 after purchasing an additional 3,394,330 shares during the last quarter. Finally, Amundi increased its position in shares of Gilead Sciences by 18.2% during the second quarter. Amundi now owns 10,467,411 shares of the biopharmaceutical company’s stock worth $1,167,221,000 after purchasing an additional 1,614,355 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Up 1.4%

NASDAQ:GILD opened at $137.78 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $93.10 and a 1 year high of $138.03. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. The stock has a fifty day moving average price of $124.25 and a two-hundred day moving average price of $118.88. The stock has a market capitalization of $170.94 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 0.71 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.31. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Gilead Sciences had a net margin of 27.88% and a return on equity of 51.86%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.02 EPS. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 3,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $124.31, for a total transaction of $372,930.00. Following the sale, the chief financial officer directly owned 150,503 shares in the company, valued at approximately $18,709,027.93. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $125.08, for a total value of $625,400.00. Following the completion of the sale, the director directly owned 8,920 shares in the company, valued at $1,115,713.60. This trade represents a 35.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 247,397 shares of company stock valued at $31,986,612 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GILD shares. BMO Capital Markets upped their target price on Gilead Sciences from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Gilead Sciences in a research note on Thursday. Argus increased their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Citigroup boosted their price target on Gilead Sciences from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.52.

Gilead Sciences Company 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.