Rhenman & Partners Asset Management AB Sells 25,000 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Rhenman & Partners Asset Management AB cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.7% during the second quarter, Holdings Channel.com reports. The firm owned 234,000 shares of the biopharmaceutical company’s stock after selling 25,000 shares during the period. Gilead Sciences makes up 1.9% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 22nd biggest holding. Rhenman & Partners Asset Management AB’s holdings in Gilead Sciences were worth $18,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cetera Investment Advisers lifted its position in Gilead Sciences by 9.2% during the first quarter. Cetera Investment Advisers now owns 57,967 shares of the biopharmaceutical company’s stock valued at $3,446,000 after acquiring an additional 4,877 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Gilead Sciences by 3.9% in the first quarter. Baird Financial Group Inc. now owns 448,409 shares of the biopharmaceutical company’s stock worth $26,660,000 after buying an additional 16,643 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Gilead Sciences by 44.3% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,642 shares of the biopharmaceutical company’s stock worth $514,000 after buying an additional 2,654 shares during the last quarter. Donaldson Capital Management LLC raised its holdings in shares of Gilead Sciences by 12.5% in the first quarter. Donaldson Capital Management LLC now owns 5,763 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 641 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in shares of Gilead Sciences in the first quarter worth $2,304,000. 82.33% of the stock is currently owned by institutional investors.

Gilead Sciences Price Performance

Shares of NASDAQ GILD traded down $0.93 during trading on Tuesday, hitting $75.07. The company had a trading volume of 1,487,945 shares, compared to its average volume of 5,757,723. The stock has a fifty day simple moving average of $76.80 and a two-hundred day simple moving average of $77.24. Gilead Sciences, Inc. has a fifty-two week low of $72.87 and a fifty-two week high of $89.74. The firm has a market capitalization of $93.54 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.00 and a beta of 0.32. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.38. Gilead Sciences had a net margin of 21.45% and a return on equity of 39.30%. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts expect that Gilead Sciences, Inc. will post 6.76 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, December 14th. Gilead Sciences’s dividend payout ratio is currently 64.38%.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the chief financial officer now directly owns 104,003 shares of the company’s stock, valued at $8,320,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the chief financial officer now directly owns 104,003 shares of the company’s stock, valued at $8,320,240. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 1,501 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total transaction of $115,561.99. Following the completion of the transaction, the insider now directly owns 70,130 shares in the company, valued at $5,399,308.70. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GILD. HSBC began coverage on shares of Gilead Sciences in a report on Wednesday, September 6th. They issued a “reduce” rating and a $71.00 price target for the company. Royal Bank of Canada decreased their price target on shares of Gilead Sciences from $78.00 to $77.00 and set a “sector perform” rating for the company in a report on Tuesday, November 14th. StockNews.com assumed coverage on shares of Gilead Sciences in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. UBS Group reduced their target price on shares of Gilead Sciences from $85.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Finally, Truist Financial reissued a “buy” rating and set a $91.00 target price on shares of Gilead Sciences in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Hold” and a consensus price target of $88.22.

Gilead Sciences Company Profile

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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.