Gilead Sciences, Inc. $GILD Stake Lessened by Convergence Investment Partners LLC

Convergence Investment Partners LLC trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 23.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,469 shares of the biopharmaceutical company’s stock after selling 12,842 shares during the quarter. Gilead Sciences makes up 1.1% of Convergence Investment Partners LLC’s portfolio, making the stock its 18th biggest position. Convergence Investment Partners LLC’s holdings in Gilead Sciences were worth $4,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Gilead Sciences Trading Up 1.7%

NASDAQ:GILD opened at $141.95 on Monday. The stock has a market cap of $176.11 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 0.74 and a beta of 0.36. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.31 and a current ratio of 1.45. Gilead Sciences, Inc. has a 1 year low of $93.37 and a 1 year high of $142.20. The business has a fifty day moving average of $125.36 and a 200-day moving average of $119.73.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.31. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Gilead Sciences had a return on equity of 51.86% and a net margin of 27.88%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $2.02 earnings per share. Equities analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research reports. Wolfe Research lifted their price objective on shares of Gilead Sciences from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Leerink Partners lifted their price target on shares of Gilead Sciences from $114.00 to $146.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank Of Canada increased their price objective on shares of Gilead Sciences from $100.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. Finally, Daiwa Capital Markets raised their target price on shares of Gilead Sciences from $128.00 to $129.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.73.

Trending Headlines about Gilead Sciences

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: Multiple sell‑side firms raised targets and reiterated bullish ratings (Wolfe Research to $155/outperform; TD Cowen to $145/buy), reinforcing buy-side momentum and implied upside from current levels. Read More. Read More.
• Positive Sentiment: Broader analyst upgrades/positive notes from Citi, Truist, BMO and UBS add to consensus bullishness, supporting demand and higher valuation multiples. Read More.
• Positive Sentiment: Clinical/regulatory wins for Trodelvy (added to NCCN guidelines; TNBC approval/win coverage) strengthen Gilead’s oncology growth story and revenue optionality beyond antivirals. Read More. Read More.
• Positive Sentiment: Coverage pieces noting that GILD has outperformed the market and is attracting analyst attention can draw momentum and ETF/quant flows into the stock. Read More.
• Neutral Sentiment: Notes on GILD’s presence in Nasdaq/healthcare ETF lineups and elevated investor attention increase volume and liquidity but are not clear directional catalysts by themselves. Read More.
• Negative Sentiment: Insider selling: CEO Daniel Patrick O’Day sold 10,000 shares (~$1.4M) at ~$139.89 (filed on Form 4). While modest relative to his remaining holding and potentially routine, insider sales can be interpreted negatively by some investors. Read More.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $124.31, for a total value of $372,930.00. Following the completion of the transaction, the chief financial officer owned 150,503 shares of the company’s stock, valued at approximately $18,709,027.93. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $125.86, for a total value of $3,524,080.00. Following the completion of the sale, the insider directly owned 107,193 shares of the company’s stock, valued at approximately $13,491,310.98. This represents a 20.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 257,397 shares of company stock worth $33,385,512 in the last three months. Insiders own 0.27% 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.