Castleark Management LLC Takes Position in Gilead Sciences, Inc. $GILD

Castleark Management LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, Holdings Channel reports. The institutional investor acquired 527,542 shares of the biopharmaceutical company’s stock, valued at approximately $66,650,000. Gilead Sciences accounts for about 1.8% of Castleark Management LLC’s portfolio, making the stock its 14th biggest position.

Several other large investors have also added to or reduced their stakes in the business. Persistent Asset Partners Ltd bought a new position in shares of Gilead Sciences in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC boosted its position in Gilead Sciences by 71.4% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Quattro Advisors LLC acquired a new position in Gilead Sciences during the fourth quarter valued at approximately $26,000. Finally, Wealth Preservation Advisors LLC grew its stake in Gilead Sciences by 60.0% in the fourth 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 Analyst Weigh In

GILD has been the topic of several recent analyst reports. Rothschild & Co Redburn lowered their price target on Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Barclays cut their price objective on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. 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 note on Tuesday, July 7th. Maxim Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Wednesday, May 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.04.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $148.77 on Wednesday. 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 business’s 50 day moving average price is $132.85 and its two-hundred day moving average price is $136.59. The company has a market cap of $184.47 billion, a PE ratio of -55.72 and a beta of 0.32. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The company had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same period last year, the firm posted $2.01 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Gilead Sciences, Inc. will post -0.5 EPS for the current 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 paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio is -122.85%.

Insiders Place Their Bets

In other Gilead Sciences news, CEO Daniel Patrick O’day sold 15,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the completion of the sale, the chief executive officer owned 592,133 shares of the company’s stock, valued at $77,160,851.23. This trade represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Monday, August 17th. The stock was sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares of the company’s stock, valued at approximately $16,273,727.76. This trade represents a 19.15% 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 90 days, insiders sold 87,000 shares of company stock worth $11,562,960. Company insiders own 0.30% of the company’s stock.

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.