BluePath Capital Management LLC Trims Position in Gilead Sciences, Inc. (NASDAQ:GILD)

BluePath Capital Management LLC cut its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 16.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,555 shares of the biopharmaceutical company’s stock after selling 1,745 shares during the period. BluePath Capital Management LLC’s holdings in Gilead Sciences were worth $717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Vanguard Group Inc. increased its stake in shares of Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Swedbank AB bought a new position in shares of Gilead Sciences during the first quarter worth $134,489,000. International Assets Investment Management LLC boosted its position in shares of Gilead Sciences by 8,238.4% during the third quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after acquiring an additional 1,622,806 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Gilead Sciences by 24.7% during the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after acquiring an additional 1,564,792 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Up 0.8 %

NASDAQ GILD opened at $89.51 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The company has a market capitalization of $111.44 billion, a price-to-earnings ratio of 109.16, a price-to-earnings-growth ratio of 3.07 and a beta of 0.18. The company’s 50-day simple moving average is $83.79 and its two-hundred day simple moving average is $74.12. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $89.74.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Equities analysts forecast that Gilead Sciences, Inc. will post 3.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,033,340 in the last 90 days. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research reports. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, Sanford C. Bernstein began coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

Gilead Sciences 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, 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.