Gilead Sciences, Inc. $GILD Stake Cut by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada cut its Gilead Sciences stake by 68.1% in the third quarter, selling 328,399 shares and retaining 153,802 shares valued at approximately $22.7 million.
• Gilead’s institutional ownership remains high at 83.67%, while recent news includes an expanded oncology collaboration with Vir Biotechnology that could generate up to approximately $1.74 billion in milestone payments.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $159.33; shares recently traded near their 52-week high of $160.51.

TD Waterhouse Canada Inc. decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 68.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 153,802 shares of the biopharmaceutical company's stock after selling 328,399 shares during the period. TD Waterhouse Canada Inc.'s holdings in Gilead Sciences were worth $22,698,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Gilead Sciences during the 2nd quarter valued at $15,393,785,000. Legal & General Group Plc bought a new position in shares of Gilead Sciences in the 2nd quarter worth $1,316,606,000. Deutsche Bank AG bought a new position in shares of Gilead Sciences in the 2nd quarter worth $918,387,000. Jupiter Topco LLC purchased a new stake in shares of Gilead Sciences during the 2nd quarter worth $448,021,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Gilead Sciences during the 2nd quarter worth $398,905,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences News Roundup

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

• Positive Sentiment: Vir oncology collaboration expands Gilead’s pipeline. Gilead and Vir Biotechnology agreed to develop three novel cancer therapies, including next-generation T-cell engagers. The deal could provide Vir with up to approximately $1.74 billion in additional milestone payments, giving Gilead access to potential long-term oncology growth while diversifying its pipeline. Gilead and Vir forge $1.9bn pact to develop next-gen T-cell engagers
• Positive Sentiment: Investors are rotating toward defensive healthcare stocks. As investors reduce exposure to technology and chip stocks, major pharmaceutical companies—including Gilead—have traded near record highs. This rotation may be supporting demand for GILD because of the sector’s defensive characteristics and potential earnings support. Big pharma stocks near all-time highs as tech selloff pushes investors toward safer bets
• Neutral Sentiment: Recent momentum has increased investor attention. GILD gained 2.57% in the prior session and closed at $157.48, while shares remain close to their 52-week high. Market commentary notes heightened investor interest, although analysts have expressed mixed views on the company’s prospects. Gilead Sciences rises higher than market: Key facts
• Negative Sentiment: Two senior executives reported planned stock sales. CFO Andrew Dickinson and insider Johanna Mercier each sold 3,000 shares at an average price of $156.22. Both transactions were executed under pre-arranged Rule 10b5-1 plans, limiting their significance as a bearish signal; each executive continues to hold a substantial position. Gilead CFO Form 4 filing

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GILD shares. Truist Financial raised their price objective on Gilead Sciences from $150.00 to $158.00 and gave the company a "buy" rating in a research report on Wednesday, October 7th. Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $123.00 to $126.00 and gave the stock a "sector perform" rating in a report on Thursday, October 8th. Barclays reduced their target price on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Wall Street Zen raised shares of Gilead Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Finally, Leerink Partners cut shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $146.00 to $127.00 in a report on Tuesday, July 21st. Twenty-three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $159.33.

Gilead Sciences Price Performance

NASDAQ GILD opened at $156.19 on Friday. The firm's fifty day simple moving average is $147.19 and its two-hundred day simple moving average is $137.29. The firm has a market capitalization of $193.67 billion, a P/E ratio of -58.50 and a beta of 0.31. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 12-month low of $114.02 and a 12-month high of $160.51.

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 (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. Analysts forecast that Gilead Sciences, Inc. will post -0.47 EPS 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 paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, September 15th. Gilead Sciences's payout ratio is -122.85%.

Insider Activity

In related news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the transaction, the director directly owned 10,066 shares of the company's stock, valued at $1,459,771.32. This represents a 33.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Dickinson sold 3,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $156.22, for a total value of $468,660.00. Following the completion of the sale, the chief financial officer owned 161,096 shares of the company's stock, valued at approximately $25,166,417.12. This trade represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 111,000 shares of company stock worth $15,877,860 over the last quarter. Company insiders own 0.30% of the company's stock.

Gilead Sciences Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company is best known for its HIV treatments, including Biktarvy, Descovy, Genvoya and Truvada, as well as therapies for chronic hepatitis B and hepatitis C. Its portfolio also includes Veklury (remdesivir), an antiviral treatment for COVID-19.

Gilead has expanded into oncology and cell therapy through products such as Trodelvy and the CAR T-cell therapies Yescarta and Tecartus, which are developed and marketed through its Kite subsidiary.

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