Bamco Inc. NY Sells 12,000 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Bamco Inc. NY cut its Gilead Sciences stake by 40%, selling 12,000 shares in the second quarter and retaining 18,000 shares valued at approximately $2.27 million. Institutional investors and hedge funds collectively own 83.67% of the company.
• Gilead shares opened at $148.86, near the upper end of their 52-week range. The company exceeded quarterly revenue and EPS expectations, reporting $7.80 billion in revenue, and declared a quarterly dividend of $0.82 per share.
• Insiders have sold 105,000 shares worth about $14.24 million over the past 90 days, including two directors’ sales conducted under pre-arranged Rule 10b5-1 plans. Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $158.04.

Bamco Inc. NY reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 40.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,000 shares of the biopharmaceutical company's stock after selling 12,000 shares during the period. Bamco Inc. NY's holdings in Gilead Sciences were worth $2,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GILD. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences in the fourth quarter valued at approximately $25,000. Persistent Asset Partners Ltd acquired a new stake in shares of Gilead Sciences during the 2nd quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Gilead Sciences by 71.4% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. Quattro Advisors LLC acquired a new position in shares of Gilead Sciences during the 4th quarter valued at $26,000. Finally, Wealth Preservation Advisors LLC grew its holdings in Gilead Sciences by 60.0% in the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 81 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the sale, the director owned 10,066 shares in the company, valued at approximately $1,459,771.32. This represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Welters sold 18,000 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total value of $2,675,160.00. Following the completion of the sale, the director directly owned 12,894 shares of the company's stock, valued at $1,916,306.28. The trade was a 58.26% 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 have sold 105,000 shares of company stock valued at $14,238,120 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Gilead Sciences Stock Up 0.5%

Shares of NASDAQ GILD opened at $148.86 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The company has a 50-day moving average price of $133.81 and a 200-day moving average price of $136.55. The stock has a market capitalization of $184.58 billion, a P/E ratio of -55.75 and a beta of 0.32. Gilead Sciences, Inc. has a 1 year low of $108.46 and a 1 year high of $157.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping 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 company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The firm's revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that Gilead Sciences, Inc. will post -0.5 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is currently -122.85%.

Key Headlines Impacting Gilead Sciences

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Leerink Partners downgraded shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Royal Bank Of Canada raised their target price on Gilead Sciences from $120.00 to $123.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Barclays decreased their target price on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. HSBC raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their price target for the stock from $133.00 to $155.00 in a research note on Monday, July 6th. Finally, Maxim Group raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Wednesday, May 20th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.04.

About Gilead Sciences

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.

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