Glenview Trust Co Grows Stake in Gilead Sciences, Inc. $GILD

Glenview Trust Co raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.9% in the second quarter, HoldingsChannel reports. The firm owned 195,795 shares of the biopharmaceutical company’s stock after acquiring an additional 3,638 shares during the period. Glenview Trust Co’s holdings in Gilead Sciences were worth $24,737,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Gilead Sciences during the second quarter valued at $15,393,785,000. Norges Bank purchased a new stake in Gilead Sciences in the fourth quarter worth about $2,617,152,000. Legal & General Group Plc purchased a new stake in Gilead Sciences in the second quarter worth about $1,316,606,000. Deutsche Bank AG bought a new position in Gilead Sciences during the 2nd quarter worth about $918,387,000. Finally, Boston Partners bought a new position in Gilead Sciences during the 4th quarter worth about $517,808,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 118,234 shares in the company, valued at $16,273,727.76. This trade represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the company’s stock in a transaction on 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 approximately $77,160,851.23. The trade was a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last quarter. Insiders own 0.30% of the company’s stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $148.86 on Friday. The company has a market capitalization of $184.58 billion, a PE ratio of -55.75 and a beta of 0.32. 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 50-day simple moving average of $133.81 and a two-hundred day simple moving average of $136.55. Gilead Sciences, Inc. has a one year low of $108.46 and a one year high of $157.29.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same period last year, the business earned $2.01 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. Research analysts expect that Gilead Sciences, Inc. will post -0.5 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. Gilead Sciences’s dividend payout ratio is presently -122.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada boosted their price target on shares of Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Rothschild & Co Redburn dropped their price objective on shares of Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 5th. Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Daiwa Securities Group reduced their price objective on shares of Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, May 19th. Twenty-four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $158.04.

Gilead Sciences News Roundup

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

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.