Longbow Finance SA Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Longbow Finance SA made a new investment in Gilead Sciences, purchasing 59,377 shares worth approximately $6.65 million during the first quarter.
• Insider transactions include Director Jeffrey Bluestone selling 5,000 shares for about $548,700, resulting in a significant reduction of his holdings by 35.92%.
• Analysts have increased target prices for Gilead Sciences, with JPMorgan raising theirs from $120 to $130, reflecting a generally positive outlook on the stock.

Longbow Finance SA purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 59,377 shares of the biopharmaceutical company's stock, valued at approximately $6,653,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Denver PWM LLC bought a new stake in Gilead Sciences during the 1st quarter worth about $224,000. Westover Capital Advisors LLC bought a new stake in shares of Gilead Sciences in the 1st quarter valued at about $772,000. Cetera Investment Advisers raised its holdings in shares of Gilead Sciences by 5.8% in the 1st quarter. Cetera Investment Advisers now owns 243,333 shares of the biopharmaceutical company's stock valued at $27,265,000 after purchasing an additional 13,389 shares during the period. John G Ullman & Associates Inc. raised its holdings in shares of Gilead Sciences by 34.1% in the 1st quarter. John G Ullman & Associates Inc. now owns 7,021 shares of the biopharmaceutical company's stock valued at $787,000 after purchasing an additional 1,786 shares during the period. Finally, Brookwood Investment Group LLC bought a new stake in shares of Gilead Sciences in the 1st quarter valued at about $753,000. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the transaction, the director owned 8,920 shares in the company, valued at $978,880.80. This represents a 35.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider owned 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,000 shares of company stock worth $7,844,775. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GILD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price on the stock. Oppenheimer dropped their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Finally, Morgan Stanley upped their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.38.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $113.20 on Friday. The company's 50 day moving average price is $109.63 and its two-hundred day moving average price is $105.71. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $119.96. The firm has a market cap of $140.81 billion, a PE ratio of 23.83, a PEG ratio of 0.73 and a beta of 0.29. 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 announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) 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 firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same quarter in the prior year, the business posted ($1.32) EPS. The business's revenue was down .3% compared to the same quarter last year. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

About Gilead Sciences

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.

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