Foundry Partners LLC Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)
Foundry Partners LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 108,069 shares of the biopharmaceutical company’s stock, valued at approximately $7,301,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GILD. Norges Bank bought a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $798,882,000. Parnassus Investments CA grew its stake in shares of Gilead Sciences by 21.2% during the first quarter. Parnassus Investments CA now owns 13,074,555 shares of the biopharmaceutical company’s stock valued at $849,976,000 after buying an additional 2,288,767 shares during the last quarter. Miller Howard Investments Inc. NY bought a new position in shares of Gilead Sciences during the second quarter valued at approximately $93,386,000. Geode Capital Management LLC grew its stake in shares of Gilead Sciences by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 16,867,065 shares of the biopharmaceutical company’s stock valued at $1,053,332,000 after buying an additional 835,915 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Gilead Sciences by 566.5% during the fourth quarter. American Century Companies Inc. now owns 795,080 shares of the biopharmaceutical company’s stock valued at $49,732,000 after buying an additional 675,782 shares during the last quarter. 78.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Friday, April 26th. They issued an “outperform” rating and a $82.00 price target for the company. Evercore ISI reiterated a “buy” rating on shares of Gilead Sciences in a report on Friday, May 17th. Maxim Group set a $84.00 price target on Gilead Sciences and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Monday, July 15th. Finally, Wells Fargo & Co reiterated a “sell” rating on shares of Bausch Health Companies in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $81.56.
Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.23. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.29 billion. Gilead Sciences had a return on equity of 37.98% and a net margin of 26.40%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 6.62 EPS for the current fiscal year.
In other news, EVP Brett A. Pletcher sold 7,200 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $65.07, for a total transaction of $468,504.00. Following the transaction, the executive vice president now directly owns 34,398 shares of the company’s stock, valued at $2,238,277.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Francis Cogan sold 2,868 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $64.89, for a total value of $186,104.52. Following the transaction, the director now directly owns 57,728 shares in the company, valued at $3,745,969.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,884 shares of company stock worth $1,054,459. Insiders own 0.20% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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