EFG International AG Takes Position in Gilead Sciences, Inc. $GILD

Key Points

• EFG International AG acquired 8,891 Gilead Sciences shares during the second quarter, worth approximately $1.12 million. Institutional investors collectively own 83.67% of Gilead’s outstanding stock.
• Analyst sentiment remains positive overall, with 24 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $158.04, despite some recent target reductions.
• Gilead reported quarterly revenue of $7.8 billion, exceeding estimates, while revenue increased 10.6% year over year. The company also declared a quarterly dividend of $0.82 per share, representing a 2.2% annualized yield.

EFG International AG purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,891 shares of the biopharmaceutical company's stock, valued at approximately $1,123,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in Gilead Sciences during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $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 buying an additional 85 shares during the period. Quattro Advisors LLC bought a new stake in shares of Gilead Sciences during the fourth quarter worth $26,000. Finally, Wealth Preservation Advisors LLC raised its position in shares of Gilead Sciences by 60.0% during the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In related news, CEO Daniel Patrick O'day sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the transaction, the chief executive officer owned 592,133 shares of the company's stock, valued at $77,160,851.23. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $138.36, for a total transaction of $415,080.00. Following the transaction, the chief financial officer owned 165,646 shares of the company's stock, valued at approximately $22,918,780.56. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 87,000 shares of company stock valued at $11,562,960. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GILD. Morgan Stanley decreased their price target on Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday, July 27th. Wall Street Zen raised Gilead Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Daiwa Securities Group cut their target price on shares of Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 19th. Leerink Partners lowered shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $170.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $158.04.

Gilead Sciences Stock Down 0.5%

NASDAQ:GILD opened at $148.09 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The stock's fifty day simple moving average is $133.31 and its 200-day simple moving average is $136.58. The firm has a market capitalization of $183.62 billion, a P/E ratio of -55.46 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating analysts' consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Gilead Sciences, Inc. will post -0.5 earnings per share for the current year.

Gilead Sciences Announces Dividend

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 given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's payout ratio is presently -122.85%.

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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source