B.O.S.S. Retirement Advisors LLC, a prominent institutional investor in the biopharmaceutical company Gilead Sciences, has recently increased its stake by 5.4% according to their latest Securities and Exchange Commission filing. The investor now owns 37,457 shares of Gilead Sciences’ stock, an additional 1,918 compared to previous holdings. This puts the current market value of B.O.S.S. Retirement Advisors LLC’s holdings at an impressive $3,108,000.
Despite this positive news for Gilead Sciences’ shareholders, the company has experienced some turbulence in their recent earnings results report. Released on April 27th of this year, the biopharmaceutical firm underperformed on analyst expectations for earnings per share (EPS), reporting $1.37 rather than the predicted $1.63-per-share consensus expectation – a shortfall of 26 cents.
The report also indicated a decrease in revenue during that quarter year over year: down by 3.6%. However, there was still significant performance from Gilead Sciences with a net margin of 20.65% and a return on equity percentage was more than adequate sitting at 39.35%. For FY2023, it is believed by analysts that EPS will be around $6.74.
Recent reports on Gild from various financial research analysts highlight both positive and negative market outlooks due to inconsistencies within its performance as noted above during Q1/2023. StockNews.com calls for a strong buy rating for the pharma giant while Morgan Stanley listed it’s price target at $85 and rated it as equal weight; meaning investors should not overweight their portfolios with holdings in this stock.
Eight investment firms have issued hold ratings while another nine have provided buy ratings with one calling for strong buy rating with an average price target of $91 projected by Bloomberg at present making it a moderate to call upon equity stakeholders to invest in this particular stock.
Gilead Sciences will need to focus on delivering better-than-anticipated EPS reports whilst also increasing their revenue growth to gain further investor trust and attention, signalling the company is still a viable investment prospect for stakeholders looking to add pharma holdings to their portfolios or acquire a stronger position in this sector of interest.
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Institutional Investors Increase Holdings in Gilead Sciences Inc. as Company Maintains Pre-Eminence in Antiviral Industry
Gilead Sciences Inc. (GILD) continues to attract investment from hedge funds and institutional investors, with Arrowstreet Capital Limited Partnership increasing its holdings in the biopharmaceutical company by 324.8% during Q1 2023, and Norges Bank buying a new stake worth $1.12bn last year. Moneta Group Investment Advisors LLC increased its stake in GILD by an astonishing 96,759.8% during Q4 2022 to $868m after adding an additional 10,100,755 shares to its portfolio.
Renaissance Technologies LLC added to its position in the company during Q1 2023, raising it by 70.6%. The increase saw the firm own around $921m worth of Gilead shares last quarter. Finally, Alliancebernstein L.P increased its stake in the current market leader for antiviral drugs by a significant 117.5% during Q4 2022 to take possession of a total of $333m U.S dollars worth of shares outstanding.
The collective holdings mean that institutional investors now own around 81.59% of Gilead’s stock as of June 26, 2023.
Gilead’s stock is trading at around $77 following the opening bell on Monday with a debt-to-equity ratio of just over one and carries a price-earnings ratio of just over seventeen times earnings per share. Meanwhile, its one year low is noted at $59.27 with a one year high reaching as far as $89.74.
Over the past few months, research analysts have drawn recommendations on investing into what can sometimes be known as “a rewarding bio-pharma space.” On March 6th, Royal Bank of Canada lowered Gilead Science’s price target to $86 per share while upgrading their rating for the Californian-based firm from “sector perform” to “outperform.” Morgan Stanley then followed RBC’s move, upgrading GILD from equal weight to overweight while lifting the firm’s target price from $81 to $85.
As for dividend payouts, Gilead Sciences recently announced a quarterly payout of $0.75 per share to shareholders who were registered as of June 15th. The ex-dividend date for the dividend was on June 14th. This represents an annualised dividend payout of around three US dollars with a yield of approximately 3.87%. Its current DPR stands at just over 67%.
Finally, insiders have also been selling off shares in the company lately with Merdad Parsey offloading 1,485 shares and earning more than $114,000. Despite this one-off sale by Parsey, insiders still own around 0.21% of Gilead’s stock which indicates enduring commitment to the company’s success among senior executives.
GILD currently holds a “Moderate Buy” rating and has settled into its industry-leading position in antivirals by investing in research and development to maintain pre-eminence within the industry. It pays investors well via dividends too, making it an attractive option for risk-averse investment strategies.