Econ Financial Services Corp Takes $1.05 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Econ Financial Services Corp acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,374 shares of the biopharmaceutical company’s stock, valued at approximately $1,053,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Gilead Sciences during the fourth quarter worth $1,301,624,000. The Manufacturers Life Insurance Company increased its stake in shares of Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after acquiring an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares during the period. Wellington Management Group LLP boosted its stake in Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after acquiring an additional 2,350,550 shares during the last quarter. Finally, abrdn plc grew its holdings in Gilead Sciences by 89.0% during the fourth quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock valued at $304,930,000 after purchasing an additional 1,772,887 shares during the period. 83.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a research report on Friday, April 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $74.00 price objective on shares of Gilead Sciences in a research report on Monday, July 1st. UBS Group dropped their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Barclays reduced their price target on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Hold” and a consensus price target of $81.81.

Gilead Sciences Stock Up 0.9 %

Shares of NASDAQ:GILD traded up $0.72 during midday trading on Monday, reaching $77.73. The company had a trading volume of 4,571,094 shares, compared to its average volume of 7,445,965. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The stock has a market cap of $96.84 billion, a PE ratio of 215.92, a P/E/G ratio of 3.28 and a beta of 0.18. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average price is $67.99 and its 200 day moving average price is $70.93.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 EPS. Research analysts forecast that Gilead Sciences, Inc. will post 3.74 EPS for the current fiscal year.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

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, 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.