Jupiter Asset Management Ltd. Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Jupiter Asset Management Ltd. acquired 693,707 shares of Gilead Sciences, Inc., valued at approximately $77.73 million, making it the 24th largest position in their portfolio.
• Gilead's stock currently has an average rating of "Moderate Buy" among analysts, with a consensus price target of $112.36.
• Insider trading activity included Director Jeffrey Bluestone selling 5,000 shares valued at about $548,700, indicating a 35.92% decrease in his ownership.

Jupiter Asset Management Ltd. purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 693,707 shares of the biopharmaceutical company's stock, valued at approximately $77,730,000. Gilead Sciences accounts for about 0.7% of Jupiter Asset Management Ltd.'s holdings, making the stock its 24th largest holding. Jupiter Asset Management Ltd. owned approximately 0.06% of Gilead Sciences at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock valued at $3,724,306,000 after purchasing an additional 7,157,113 shares during the period. Northern Trust Corp boosted its stake in shares of Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Gilead Sciences by 15.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock valued at $1,130,117,000 after buying an additional 1,605,730 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Gilead Sciences by 12.9% during the 4th quarter. Invesco Ltd. now owns 11,277,915 shares of the biopharmaceutical company's stock valued at $1,041,741,000 after buying an additional 1,292,399 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Gilead Sciences by 30.1% during the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after buying an additional 2,005,863 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer reduced their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research note on Friday, July 25th. Morgan Stanley increased their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.36.

Insider Transactions at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the sale, the director owned 8,920 shares of the company's stock, valued at $978,880.80. The trade was a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $113.94, for a total value of $1,139,400.00. Following the sale, the chief executive officer directly owned 605,725 shares in the company, valued at approximately $69,016,306.50. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock worth $8,984,175 in the last three months. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

GILD stock traded up $0.89 on Friday, reaching $113.18. The company's stock had a trading volume of 5,016,320 shares, compared to its average volume of 5,536,027. Gilead Sciences, Inc. has a 52 week low of $72.43 and a 52 week high of $119.96. The company has a market capitalization of $140.79 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 0.71 and a beta of 0.33. The firm has a fifty day moving average of $110.51 and a two-hundred day moving average of $106.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.