Gilead Sciences, Inc. (GILD) Shares Bought by West Coast Financial LLC
West Coast Financial LLC lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 48.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,955 shares of the biopharmaceutical company’s stock after acquiring an additional 2,605 shares during the period. West Coast Financial LLC’s holdings in Gilead Sciences were worth $645,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sanders Capital LLC purchased a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $427,585,000. Renaissance Technologies LLC raised its holdings in shares of Gilead Sciences by 35.0% during the 2nd quarter. Renaissance Technologies LLC now owns 10,407,848 shares of the biopharmaceutical company’s stock valued at $736,667,000 after buying an additional 2,700,600 shares during the period. Vanguard Group Inc. raised its holdings in shares of Gilead Sciences by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 92,841,960 shares of the biopharmaceutical company’s stock valued at $6,571,355,000 after buying an additional 2,148,697 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Gilead Sciences by 50.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,191,622 shares of the biopharmaceutical company’s stock worth $438,244,000 after purchasing an additional 2,062,886 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Gilead Sciences by 1.9% during the 2nd quarter. BlackRock Inc. now owns 104,906,494 shares of the biopharmaceutical company’s stock worth $7,425,281,000 after purchasing an additional 1,937,031 shares during the last quarter. 76.11% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on GILD shares. Jefferies Group restated a “hold” rating and set a $93.00 price objective on shares of Gilead Sciences in a report on Wednesday, October 4th. Bank of America dropped their price objective on Gilead Sciences from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, October 4th. Oppenheimer started coverage on Gilead Sciences in a report on Thursday, October 5th. They set a “market perform” rating on the stock. CIBC began coverage on Gilead Sciences in a report on Thursday, October 5th. They set a “market perform” rating on the stock. Finally, Leerink Swann lifted their target price on Gilead Sciences from $87.00 to $89.00 and gave the stock a “market perform” rating in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Gilead Sciences presently has an average rating of “Buy” and a consensus price target of $85.58.
Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a return on equity of 57.15% and a net margin of 42.22%. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the business earned $2.75 EPS. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. research analysts forecast that Gilead Sciences, Inc. will post 8.53 earnings per share for the current fiscal year.
In other news, insider John F. Milligan sold 220,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $72.88, for a total transaction of $16,033,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James R. Meyers sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $80.24, for a total value of $8,024,000.00. Following the sale, the executive vice president now directly owns 102,715 shares in the company, valued at $8,241,851.60. The disclosure for this sale can be found here. Insiders sold a total of 591,666 shares of company stock worth $44,466,567 in the last three months. Company insiders own 1.30% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.
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