Great Lakes Advisors LLC Makes New $127.25 Million Investment in Gilead Sciences, Inc. $GILD

Key Points

• Great Lakes Advisors acquired 1.01 million Gilead shares worth approximately $127.25 million, joining other institutions that increased exposure; institutional investors now own 83.67% of the stock.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $158.04 price target versus Gilead’s $143.44 share price. Recent ratings included upgraded or maintained bullish views, though some firms lowered price targets or downgraded the stock.
• Gilead reported quarterly revenue of $7.80 billion, above expectations and up 10.6% year over year, while declaring a quarterly dividend of $0.82 per share, equivalent to a 2.3% yield. Insiders have sold 82,000 shares worth about $10.84 million over the past quarter.

Great Lakes Advisors LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,007,171 shares of the biopharmaceutical company's stock, valued at approximately $127,246,000. Great Lakes Advisors LLC owned 0.08% of Gilead Sciences at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Avaii Wealth Management LLC purchased a new stake in Gilead Sciences during the 2nd quarter valued at about $420,000. Danske Bank A S purchased a new position in shares of Gilead Sciences in the second quarter worth about $106,176,000. Diversify Advisory Services LLC acquired a new stake in shares of Gilead Sciences during the second quarter worth about $1,817,000. Gables Capital Management Inc. acquired a new stake in shares of Gilead Sciences during the second quarter worth about $378,000. Finally, Wealthfront Advisers LLC purchased a new stake in Gilead Sciences in the second quarter valued at approximately $30,251,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the completion of the transaction, the insider owned 118,234 shares of the company's stock, valued at approximately $16,273,727.76. The trade was a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O'day sold 15,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the sale, the chief executive officer directly owned 592,133 shares in the company, valued at approximately $77,160,851.23. The trade was a 2.47% 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. Over the last quarter, insiders have sold 82,000 shares of company stock worth $10,837,860. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on GILD. Royal Bank Of Canada increased their price target on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $155.00 price objective on shares of Gilead Sciences in a research note on Wednesday, August 5th. Truist Financial reduced their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Finally, Barclays decreased 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 research report on Wednesday, July 29th. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.04.

Gilead Sciences Trading Up 3.3%

Shares of NASDAQ:GILD opened at $143.44 on Wednesday. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The company has a market capitalization of $177.86 billion, a PE ratio of -53.72 and a beta of 0.32. The business has a 50 day moving average of $130.69 and a two-hundred day moving average of $136.46. 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 (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping analysts' consensus estimates of ($7.25) by $0.50. The business had revenue of $7.80 billion for 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 business's revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $2.01 EPS. As a group, analysts forecast that Gilead Sciences, Inc. will post -0.53 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 yield of 2.3%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is currently -122.85%.

Gilead Sciences News Summary

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

• Positive Sentiment: A federal appeals court blocked companies from importing and selling cheaper foreign versions of Biktarvy in the United States. The ruling helps protect revenue from Gilead’s leading HIV treatment and removes a potential competitive and pricing threat. Gilead stock court ruling on Biktarvy imports
• Positive Sentiment: Gilead’s HIV franchise remains the primary growth engine. Biktarvy continues to lead treatment, while the newer Yeztugo product and additional pipeline programs could expand the company’s prevention and treatment opportunities. Is Gilead's Expanding HIV Portfolio a Growth Catalyst?
• Positive Sentiment: Commentary from The Motley Fool highlighted Gilead as an underappreciated healthcare turnaround story, citing double-digit quarterly revenue growth, strong HIV sales, acquisitions, and an expanding oncology portfolio. This supports investor optimism about longer-term diversification beyond HIV. Gilead Sciences turnaround story
• Neutral Sentiment: Gilead is participating in a highly competitive antibody-drug conjugate oncology market. The company’s technology and patent position may create future opportunities, but the landscape also involves substantial competition and development risk. Cancer and antibody-drug conjugates patent landscape
• Negative Sentiment: Chief Commercial Officer Johanna Mercier sold 28,000 shares worth approximately $3.85 million. Because the transaction occurred under a pre-arranged Rule 10b5-1 plan, it is a limited signal about management’s outlook, though insider selling can still weigh modestly on sentiment.

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.

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