Gilead Sciences, Inc. (NASDAQ:GILD) is Convergence Investment Partners LLC's 7th Largest Position

Convergence Investment Partners LLC trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 22.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 53,192 shares of the biopharmaceutical company's stock after selling 15,255 shares during the quarter. Gilead Sciences comprises approximately 1.6% of Convergence Investment Partners LLC's portfolio, making the stock its 7th biggest position. Convergence Investment Partners LLC's holdings in Gilead Sciences were worth $5,960,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GILD. Bridgewater Associates LP raised its holdings in shares of Gilead Sciences by 122.7% during the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after acquiring an additional 253,994 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Gilead Sciences by 5.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after acquiring an additional 14,009 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Gilead Sciences by 14.5% during the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after acquiring an additional 109 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Gilead Sciences by 54.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after acquiring an additional 13,086 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $1,699,000. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on GILD shares. Morgan Stanley increased their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Oppenheimer cut their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective on the stock. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.36.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $333,090.00. Following the completion of the transaction, the insider owned 117,168 shares in the company, valued at $13,009,163.04. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the transaction, the chief executive officer directly owned 615,725 shares of the company's stock, valued at approximately $68,006,826.25. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,000 shares of company stock valued at $7,844,775. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Up 2.7%

GILD traded up $3.00 during trading on Friday, hitting $116.20. The company had a trading volume of 7,677,220 shares, compared to its average volume of 5,825,949. The company has a market capitalization of $144.54 billion, a PE ratio of 24.46, a PEG ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a one year low of $72.43 and a one year high of $119.96. The firm's 50-day moving average price is $109.91 and its 200 day moving average price is $105.88. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the prior year, the firm posted ($1.32) EPS. The firm's quarterly revenue was down .3% on a year-over-year basis. As a group, equities analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.