Empowered Funds LLC Acquires 30,382 Shares of Gilead Sciences, Inc. $GILD

Key Points

• Empowered Funds increased its Gilead Sciences position by 15.5% in the second quarter, acquiring 30,382 additional shares for a total holding of 225,845 shares valued at approximately $28.5 million. Institutional investors collectively own 83.67% of the company.
• Analysts maintain a generally positive outlook, with 24 Buy ratings and five Holds; the stock has a “Moderate Buy” consensus and an average price target of $158.04, above its reported $148.86 price.
• Gilead reported quarterly revenue of $7.8 billion, exceeding expectations and rising 10.6% year over year, while also declaring a quarterly dividend of $0.82 per share. Recent FDA and European approvals for HIV and oncology treatments could provide additional growth catalysts.

Empowered Funds LLC raised its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 225,845 shares of the biopharmaceutical company's stock after buying an additional 30,382 shares during the period. Empowered Funds LLC's holdings in Gilead Sciences were worth $28,533,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after acquiring an additional 2,450 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $215,000. Sivia Capital Partners LLC boosted its position in shares of Gilead Sciences by 16.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company's stock worth $464,000 after purchasing an additional 602 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Gilead Sciences by 12.0% during the second quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company's stock worth $13,160,000 after purchasing an additional 12,705 shares during the period. Finally, Diversify Advisory Services LLC grew its stake in shares of Gilead Sciences by 18.6% during the second quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company's stock worth $516,000 after purchasing an additional 674 shares during the period. Institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. HSBC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $133.00 to $155.00 in a report on Monday, July 6th. Royal Bank Of Canada lifted their price target on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $155.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. Leerink Partners downgraded Gilead Sciences from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Finally, Maxim Group upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 target price on the stock in a report on Wednesday, May 20th. Twenty-four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $158.04.

Gilead Sciences Trading Up 0.5%

NASDAQ GILD opened at $148.86 on Friday. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. The stock's 50 day moving average price is $133.81 and its two-hundred day moving average price is $136.55. The stock has a market capitalization of $184.58 billion, a price-to-earnings ratio of -55.75 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $7.40 billion. During the same period last year, the business earned $2.01 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts anticipate that Gilead Sciences, Inc. will post -0.5 earnings per share 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. Investors of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's dividend payout ratio is presently -122.85%.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $137.64, for a total transaction of $3,853,920.00. Following the transaction, the insider owned 118,234 shares of the company's stock, valued at $16,273,727.76. The trade was a 19.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 on Monday, August 17th. The stock was 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 in the company, valued at approximately $22,918,780.56. The trade was a 1.78% 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. Over the last three months, insiders have sold 105,000 shares of company stock worth $14,238,120. Corporate insiders own 0.30% of the company's stock.

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

Gilead Sciences Company Profile

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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