Insider Selling: Gilead Sciences (NASDAQ:GILD) CEO Sells 102,619 Shares of Stock

Key Points

• Gilead CEO Daniel O’Day sold 102,619 shares for about $18 million, reducing his position by 15.68%; the sale was made under a pre-arranged Rule 10b5-1 plan, and he retained 551,683 shares.
• Gilead’s latest quarter beat analyst estimates, with EPS of $2.55 versus $2.19 expected and revenue of $8.30 billion versus $7.81 billion; revenue rose 6.8% year over year.
• The company declared a quarterly dividend of $0.82 per share, equal to $3.28 annualized and a 2.0% yield.

Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report) CEO Daniel O'Day sold 102,619 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $175.16, for a total value of $17,974,744.04. Following the transaction, the chief executive officer owned 551,683 shares of the company's stock, valued at approximately $96,632,794.28. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Patrick O'day also recently made the following trade(s):

• On Thursday, November 5th, Daniel O'Day sold 9,810 shares of Gilead Sciences stock. The stock was sold at an average price of $175.17, for a total value of $1,718,417.70.
• On Monday, November 2nd, Daniel O'Day sold 15,000 shares of Gilead Sciences stock. The shares were sold at an average price of $169.74, for a total transaction of $2,546,100.00.
• On Friday, October 30th, Daniel O'Day sold 15,881 shares of Gilead Sciences stock. The shares were sold at an average price of $175.25, for a total value of $2,783,145.25.
• On Thursday, October 1st, Daniel O'Day sold 15,000 shares of Gilead Sciences stock. The stock was sold at an average price of $147.90, for a total value of $2,218,500.00.
• On Tuesday, September 1st, Daniel O'Day sold 15,000 shares of Gilead Sciences stock. The stock was sold at an average price of $148.64, for a total transaction of $2,229,600.00.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $0.68 during midday trading on Friday, reaching $166.89. 5,817,414 shares of the company's stock were exchanged, compared to its average volume of 6,855,866. Gilead Sciences, Inc. has a 52 week low of $116.88 and a 52 week high of $176.58. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.95 and a current ratio of 1.38. The firm has a market cap of $207.00 billion, a price-to-earnings ratio of -52.81 and a beta of 0.35. The stock's 50-day simple moving average is $152.68 and its 200 day simple moving average is $140.73.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.36. Gilead Sciences had a negative return on equity of 1.85% and a negative net margin of 12.47%. The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $7.81 billion. During the same quarter last year, the firm posted $2.47 EPS. The company's quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts expect that Gilead Sciences, Inc. will post -1.07 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be paid a $0.82 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.0%. Gilead Sciences's dividend payout ratio is -103.80%.

Institutional Investors Weigh In On Gilead Sciences

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Gilead Sciences during the second quarter valued at approximately $15,393,785,000. Legal & General Group Plc purchased a new stake in shares of Gilead Sciences in the 2nd quarter worth approximately $1,316,606,000. Deutsche Bank AG purchased a new stake in shares of Gilead Sciences in the 2nd quarter worth approximately $918,387,000. Jupiter Topco LLC purchased a new stake in shares of Gilead Sciences in the 2nd quarter worth approximately $448,021,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Gilead Sciences during the 2nd quarter valued at approximately $398,905,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences News Roundup

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

• Positive Sentiment: New HIV-prevention data showed twice-yearly lenacapavir achieved nearly twice the one-year treatment persistence of daily oral F/TDF, a result that could support Gilead’s long-acting HIV-prevention strategy. Article: New Data Show Twice-Yearly Lenacapavir Achieved Nearly Twice the One-Year Persistence
• Positive Sentiment: In the Phase 3 IDEAL study, Livdelzi (seladelpar) achieved ALP normalization in about 75% of participants with primary biliary cholangitis. The results may strengthen its case for broader second-line use, although the stock reportedly fell following the update. Article: Gilead's Livdelzi Achieves 75% ALP Normalization
• Positive Sentiment: Recent third-quarter results beat analyst estimates for earnings and revenue, and Gilead raised full-year product-sales guidance. The company also maintained its quarterly dividend at $0.82 per share. Article: Did Earnings Beat Just Shift Gilead Sciences' Investment Narrative?
• Neutral Sentiment: CEO Daniel O’Day sold more than 112,000 shares across November 4–5, but the transactions were conducted under a pre-arranged Rule 10b5-1 plan. He retained 551,683 shares, which may temper concerns about the sales. SEC Form 4 filing

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GILD shares. Morgan Stanley boosted their price objective on Gilead Sciences from $163.00 to $183.00 and gave the stock an "overweight" rating in a report on Friday, October 30th. HSBC increased their target price on Gilead Sciences from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Bank of America lifted their price target on Gilead Sciences from $168.00 to $172.00 and gave the stock a "buy" rating in a report on Tuesday, October 20th. Wall Street Zen upgraded Gilead Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, September 19th. Finally, Cantor Fitzgerald boosted their price target on Gilead Sciences from $155.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Twenty-three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $170.15.

About Gilead Sciences

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C.

Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.

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.