Mirae Asset Global Investments Co. Ltd. Acquires 34,549 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 8.6% during the fourth quarter, HoldingsChannel reports. The fund owned 434,165 shares of the biopharmaceutical company’s stock after buying an additional 34,549 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Gilead Sciences were worth $40,689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC bought a new stake in Gilead Sciences during the 3rd quarter worth $25,000. HHM Wealth Advisors LLC grew its position in Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 154 shares during the last quarter. Valued Wealth Advisors LLC grew its position in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in Gilead Sciences during the 4th quarter worth $29,000. Finally, Crews Bank & Trust bought a new stake in Gilead Sciences during the 4th quarter worth $31,000. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GILD shares. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Barclays lifted their target price on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Daiwa America raised Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Finally, Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.39.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 572,824 shares of company stock worth $53,611,715. Insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

GILD stock opened at $97.99 on Wednesday. The firm has a market cap of $122.12 billion, a PE ratio of 1,088.78, a P/E/G ratio of 1.37 and a beta of 0.18. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average of $92.58 and a 200-day moving average of $86.14. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $99.45.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the company posted $2.29 earnings per share. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 4.34 earnings per share for the current year.

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.