Key Points
- Director Anthony Welters sold 18,000 Gilead shares for approximately $2.68 million, reducing his holdings by 58.26% to 12,894 shares. The sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- Gilead reported quarterly revenue of $7.80 billion, up 10.6% year over year and above analyst expectations, although it posted a loss per share and negative net margin. The company also declared a quarterly dividend of $0.82, equivalent to a 2.2% yield.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $158.04, while recent FDA and European approvals for HIV and oncology treatments could support future growth.
Gilead Sciences, Inc. (NASDAQ:GILD - Get Free Report) Director Anthony Welters sold 18,000 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $148.62, for a total transaction of $2,675,160.00. Following the completion of the transaction, the director owned 12,894 shares of the company's stock, valued at approximately $1,916,306.28. The trade was a 58.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Gilead Sciences Price Performance
Shares of NASDAQ:GILD opened at $148.86 on Friday. The company's fifty day moving average price is $133.81 and its 200 day moving average price is $136.55. Gilead Sciences, Inc. has a 12 month low of $108.46 and a 12 month high of $157.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm has a market capitalization of $184.58 billion, a P/E ratio of -55.75 and a beta of 0.32.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating analysts' consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The firm had revenue of $7.80 billion during the quarter, compared to analysts' expectations of $7.40 billion. During the same period in the previous year, the company earned $2.01 earnings per share. Gilead Sciences's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.
Gilead Sciences Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's payout ratio is presently -122.85%.
Key Headlines Impacting Gilead Sciences
Here are the key news stories impacting Gilead Sciences this week:
- Positive Sentiment: The U.S. Food and Drug Administration approved Bixlenvo, Gilead’s once-daily single-tablet HIV regimen combining bictegravir and lenacapavir. It is the first and only single-tablet option for virologically suppressed adults on complex treatment regimens who cannot use currently available alternatives. The approval could broaden Gilead’s HIV franchise and supports its strategy of using lenacapavir in long-term HIV treatment and prevention. Reuters FDA approval article
- Positive Sentiment: The European Commission approved Trodelvy plus Keytruda for certain first-line metastatic triple-negative breast cancer patients. The label expansion strengthens Gilead’s oncology franchise and provides another potential source of revenue growth beyond its core HIV business. EU Trodelvy approval article
- Positive Sentiment: Recent investor commentary points to continued optimism around Gilead’s HIV prevention medicines, including the potential growth of its PrEP portfolio. Analysts and investors also view the stock as potentially undervalued relative to its fundamentals despite a strong five-year performance, which may support further interest. Gilead HIV catalyst article
- Neutral Sentiment: Gilead will present at the Wells Fargo, Cantor and Morgan Stanley healthcare conferences in September. These events could provide updates on Bixlenvo, HIV prevention, Trodelvy and the broader pipeline, but they do not create an immediate change to financial results. Gilead investor conferences announcement
- Negative Sentiment: Director Anthony Welters sold 18,000 shares worth approximately $2.68 million, reducing his holdings by about 58%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than a discretionary insider sale, but it may still modestly weigh on sentiment. SEC insider transaction filing
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on GILD shares. Leerink Partners downgraded Gilead Sciences from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $146.00 to $127.00 in a research note on Tuesday, July 21st. Rothschild & Co Redburn reduced their price objective on Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Morgan Stanley decreased their price objective on Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 27th. HSBC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $133.00 to $155.00 in a research report on Monday, July 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $155.00 target price on shares of Gilead Sciences in a report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.04.
Get Our Latest Report on GILD
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in Gilead Sciences by 12,498.3% in the 2nd quarter. California State Teachers Retirement System now owns 241,168,657 shares of the biopharmaceutical company's stock valued at $30,469,248,000 after purchasing an additional 239,254,365 shares in the last quarter. BlackRock Inc. acquired a new position in Gilead Sciences during the 2nd quarter worth approximately $15,393,785,000. Norges Bank purchased a new position in shares of Gilead Sciences during the 4th quarter worth approximately $2,617,152,000. Legal & General Group Plc purchased a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $1,316,606,000. Finally, Deutsche Bank AG acquired a new stake in shares of Gilead Sciences in the 2nd quarter valued at approximately $918,387,000. 83.67% of the stock is owned by hedge funds and other institutional investors.
Gilead Sciences Company Profile
(
Get Free Report)
Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.
Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.
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