Glenview Trust Co Acquires 3,638 Shares of Gilead Sciences, Inc. $GILD

Glenview Trust Co grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,795 shares of the biopharmaceutical company’s stock after buying an additional 3,638 shares during the quarter. Glenview Trust Co’s holdings in Gilead Sciences were worth $24,737,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Gilead Sciences during the second quarter valued at approximately $15,393,785,000. State Street Corp boosted its holdings in shares of Gilead Sciences by 1.9% in the 4th quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock worth $7,393,921,000 after purchasing an additional 1,151,213 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gilead Sciences by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock worth $3,399,734,000 after purchasing an additional 1,195,269 shares during the period. Bank of America Corp DE increased its position in shares of Gilead Sciences by 15.2% during the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock valued at $2,837,948,000 after purchasing an additional 3,046,688 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Gilead Sciences during the 4th quarter valued at approximately $2,617,152,000. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. Daiwa Securities Group cut their price objective on shares of Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 19th. Maxim Group raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Wednesday, May 20th. Barclays lowered their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price target on shares of Gilead Sciences in a research note on Wednesday, August 5th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

Trending Headlines about 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 Activity

In other news, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares in the company, valued at approximately $16,273,727.76. This represents a 19.15% 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, Director Anthony Welters sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $148.62, for a total transaction of $2,675,160.00. Following the completion of the transaction, the director directly owned 12,894 shares in the company, valued at $1,916,306.28. This represents a 58.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 105,000 shares of company stock valued at $14,238,120. Insiders own 0.30% of the company’s stock.

Gilead Sciences Trading Up 0.5%

Shares of NASDAQ GILD opened at $148.86 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $108.46 and a fifty-two week high of $157.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. The company has a market cap of $184.58 billion, a price-to-earnings ratio of -55.75 and a beta of 0.32. The business’s 50 day moving average price is $133.81 and its 200-day moving average price is $136.55.

Gilead Sciences (NASDAQ:GILD) last posted 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. The company had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.Gilead Sciences’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 EPS. On average, sell-side analysts expect that Gilead Sciences, Inc. will post -0.5 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s payout ratio is currently -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.