On September 26, 2023, financial news revealed that Hennessy Advisors Inc. had reduced its stake in Gilead Sciences, Inc. by 5.5% during the second quarter of the year. According to their latest filing with the Securities and Exchange Commission, Hennessy Advisors Inc. owned 65,500 shares of the biopharmaceutical company’s stock after selling 3,800 shares in that period. At the end of the reporting period, these holdings were valued at $5,048,000.
Gilead Sciences (NASDAQ:GILD) recently reported its quarterly earnings on August 3rd. The biopharmaceutical company disclosed earnings per share of $1.34 for the quarter, falling short of the consensus estimate of $1.64 by ($0.30). It is worth noting that Gilead Sciences achieved a return on equity of 37.53% and a net margin of 20.03%. During this quarter, the company generated revenue of $6.60 billion compared to analyst estimates of $6.45 billion. These figures indicate a 5.4% increase in quarterly revenue compared to the same period last year when Gilead Sciences posted EPS (earnings per share) of $1.58.
Several analysts have shared their opinions on GILD shares recently as well. Royal Bank of Canada raised their price objective on Gilead Sciences from $83.00 to $84.00 and assigned the stock a “sector perform” rating in a research note released on August 4th. Piper Sandler lowered their price objective from $105.00 to $100.00 but maintained an “overweight” rating for the company in a research note published on July 24th.
Moreover, Morgan Stanley increased their price objective for Gilead Sciences from $86.00 to $88.00 and maintained an “equal weight” rating in a research note on August 4th. Bank of America upgraded Gilead Sciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $88.00 to $95.00 in a research report on September 8th. On the other hand, Cantor Fitzgerald decreased their price target on Gilead Sciences from $85.00 to $80.00 and assigned the stock a “neutral” rating in a research report released on July 19th.
In total, there is currently one sell rating, seven hold ratings, ten buy ratings, and one strong buy rating for Gilead Sciences, according to data from Bloomberg. The average rating for the stock is classified as “Moderate Buy,” with analysts having a consensus target price of $90.05.
These new developments provide investors with insights into both institutional trading activity and analyst sentiment towards Gilead Sciences. However, it is important for individual investors to conduct further analysis before making any investment decisions based solely on these findings.
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Changes in Stakeholders, Analyst Ratings, and Insider Transactions Impact Gilead Sciences’ Performance
Gilead Sciences, Inc. (NASDAQ: GILD) recently saw changes in its stakes from various institutional investors, including Altshuler Shaham Ltd, McGlone Suttner Wealth Management Inc., Pinkerton Retirement Specialists LLC, Heritage Wealth Management LLC, and BerganKDV Wealth Management LLC. All these firms either increased or reduced their holdings in the biopharmaceutical company’s stock.
Altshuler Shaham Ltd raised its stake in Gilead Sciences by 7.0% during the fourth quarter and now owns 1,856 shares worth $159,000 after purchasing an additional 121 shares. Similarly, McGlone Suttner Wealth Management Inc. lifted its stake by 3.6% during the first quarter and now holds 3,581 shares worth $297,000 after acquiring an additional 124 shares.
Pinkerton Retirement Specialists LLC also increased its stake by 2.8% during the first quarter and now owns 4,703 shares worth $390,000 after acquiring an additional 129 shares. Additionally, Heritage Wealth Management LLC lifted its stake by an impressive 54.6% during the fourth quarter and now holds 368 shares worth $32,000 after acquiring an additional 130 shares.
BerganKDV Wealth Management LLC saw a significant increase of 41.9% in its stake during the first quarter and now owns 440 shares worth $37,000 after acquiring an additional 130 shares. Hedge funds and other institutional investors own a substantial majority of Gilead Sciences’ stock at approximately 82.33%.
As for the market performance of Gilead Sciences on September 26th, NASDAQ:GILD opened at $74.83 per share. Over the past twelve months leading up to this date, the stock has traded between a low of $61.44 and a high of $89.74.
Analysts have also expressed their opinions on GILD shares recently. Royal Bank of Canada increased the stock’s price objective from $83.00 to $84.00 and rated it as “sector perform” in a research note on August 4th. Piper Sandler, on the other hand, lowered the price objective from $105.00 to $100.00 and gave Gilead Sciences an “overweight” rating in a research note published on July 24th.
Morgan Stanley raised the price objective to $88.00 from $86.00 and assigned an “equal weight” rating to Gilead Sciences’ stock in their research note released on August 4th. Bank of America enhanced their rating from “neutral” to “buy” and increased the price target for the company’s stock from $88.00 to $95.00 in a research report dated September 8th.
In contrast, Cantor Fitzgerald decreased their price target for Gilead Sciences’ shares from $85.00 to $80.00 and assigned them a “neutral” rating in their research report on July 19th.
Overall, data collected by Bloomberg indicates that Gilead Sciences currently holds an average rating of “Moderate Buy,” with one analyst having rated it as a sell, seven giving it a hold, ten assigning it a buy rating, and one strongly recommending it as a buy option. The consensus target price estimated by analysts stands at approximately $90.05.
Moreover, Gilead Sciences recently announced its quarterly dividend payment scheduled for Thursday, September 28th. Investors who held shares until Friday, September 15th will receive a dividend of $0.75 per share owned.
Looking at recent insider transactions, CFO Andrew D. Dickinson sold 5,000 shares of Gilead Sciences’ stock on July 20th at an average price of $80.00 per share, totaling $400,000.00 in value. Following the sale, Dickinson now owns 107,587 shares worth approximately $8,606,960.
Another insider, Merdad Parsey, sold 1,501 shares of the company’s stock on September 12th at an average price of $76.99 per share, amounting to a total value of $115,561.99. Following this transaction, Parsey holds 70,130 shares in Gilead Sciences valued at around $5,399,308.70.
In conclusion, these recent events reflect the dynamics surrounding Gilead Sciences and its stakeholders. With changes in institutional holdings and analyst ratings affecting the stock’s performance along with insider transactions adding further perspective on leadership decisions within the company.
