Fagan Associates Inc. Buys New Stake in Gilead Sciences, Inc. $GILD

Key Points

• Fagan Associates acquired 17,292 Gilead shares during the third quarter, valued at approximately $2.58 million. Institutional investors and hedge funds collectively own 83.67% of Gilead’s stock.
• Gilead shares fell 1.7% to $147.92, while analysts maintained a generally favorable outlook with a “Moderate Buy” consensus rating and an average price target of $159.33.
• The company paid a quarterly dividend of $0.82 per share, equivalent to a $3.28 annualized payout and a 2.2% yield; however, upcoming earnings are expected to show a double-digit year-over-year EPS decline.

Fagan Associates Inc. acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 17,292 shares of the biopharmaceutical company's stock, valued at approximately $2,577,000.

Several other hedge funds have also recently bought and sold shares of GILD. Bank of Nova Scotia acquired a new position in shares of Gilead Sciences in the second quarter worth $100,056,000. Groupe la Francaise increased its position in shares of Gilead Sciences by 30.9% during the second quarter. Groupe la Francaise now owns 49,627 shares of the biopharmaceutical company's stock worth $6,270,000 after acquiring an additional 11,712 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Gilead Sciences in the second quarter valued at $55,754,000. Baird Financial Group Inc. raised its stake in shares of Gilead Sciences by 3.6% in the second quarter. Baird Financial Group Inc. now owns 292,295 shares of the biopharmaceutical company's stock valued at $36,929,000 after acquiring an additional 10,206 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Gilead Sciences in the second quarter valued at $6,251,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Trending Headlines about Gilead Sciences

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: Analysts remain bullish on Gilead, highlighting the company among attractive healthcare stocks. The positive view reflects Gilead’s HIV, liver-disease and oncology franchises, as well as its longer-term growth prospects. Analysts Are Bullish on These Healthcare Stocks: BioNTech SE (BNTX), Gilead Sciences (GILD)
• Positive Sentiment: Bank of America said survey results support a favorable long-term outlook for Yeztugo, Gilead’s HIV-prevention drug. Strong adoption potential could provide an additional growth driver for the company’s HIV portfolio. Gilead Sciences' Yeztugo Survey Supports Long-Term Growth Outlook, BofA Says
• Positive Sentiment: Erste Group Bank modestly raised its FY2027 EPS forecast for Gilead to $9.90 from $9.88, signaling confidence in the company’s future profitability. Erste Group Bank Raises Gilead Sciences EPS Estimate
• Neutral Sentiment: Recent comparisons with GRAIL and Vertex Pharmaceuticals provide valuation and operating-context analysis but do not identify a specific new catalyst for GILD. Contrasting GRAIL and Gilead Sciences Gilead Sciences versus Vertex Pharmaceuticals
• Negative Sentiment: Gilead’s upcoming third-quarter earnings report is expected to show a double-digit year-over-year EPS decline. That forecast is weighing on sentiment despite optimism about the company’s longer-term pipeline and product growth. Earnings Preview: What to Expect From Gilead Sciences’ Report

Gilead Sciences Stock Down 1.7%

Shares of NASDAQ:GILD traded down $2.51 during trading hours on Tuesday, reaching $147.92. The stock had a trading volume of 5,557,687 shares, compared to its average volume of 6,816,672. Gilead Sciences, Inc. has a 1 year low of $114.02 and a 1 year high of $157.29. The firm's 50 day moving average is $145.77 and its 200-day moving average is $136.87. The stock has a market capitalization of $183.41 billion, a price-to-earnings ratio of -55.40 and a beta of 0.31. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.25) by $0.50. The business had revenue of $7.80 billion during the quarter, compared to analysts' expectations of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 EPS. Research analysts predict that Gilead Sciences, Inc. will post -0.47 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Gilead Sciences's dividend payout ratio is -122.85%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GILD shares. Weiss Ratings upgraded Gilead Sciences from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, September 14th. Needham & Company LLC restated a "buy" rating and set a $170.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. HSBC increased their price target on Gilead Sciences from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Finally, Barclays decreased their price objective on Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Twenty-three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.33.

Insider Buying and Selling

In other Gilead Sciences news, Director Anthony Welters sold 18,000 shares of the firm's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $148.62, for a total value of $2,675,160.00. Following the sale, the director directly owned 12,894 shares in the company, valued at $1,916,306.28. This trade represents a 58.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O'Day sold 15,000 shares of Gilead Sciences stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $147.90, for a total value of $2,218,500.00. Following the sale, the chief executive officer directly owned 566,683 shares of the company's stock, valued at $83,812,415.70. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,000 shares of company stock valued at $14,940,540 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

About Gilead Sciences

Gilead Sciences, Inc NASDAQ: GILD is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. Its research and commercial activities focus primarily on virology, including HIV, hepatitis B and hepatitis C, as well as oncology, inflammation and other areas of significant unmet medical need.

Gilead's portfolio includes HIV treatments such as Biktarvy, Descovy, Genvoya and Sunlenca; hepatitis therapies including Epclusa, Harvoni and Vemlidy; and Veklury (remdesivir), an antiviral used to treat COVID-19 in certain patients.

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