Bahl & Gaynor Inc. Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Bahl & Gaynor Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 77.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,012 shares of the biopharmaceutical company’s stock after selling 10,378 shares during the period. Bahl & Gaynor Inc.’s holdings in Gilead Sciences were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth $29,000. Private Wealth Management Group LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth $29,000. Palisade Asset Management LLC purchased a new position in shares of Gilead Sciences in the 1st quarter worth $29,000. Sachetta LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth $30,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences in the 4th quarter worth $33,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GILD shares. TD Cowen lowered their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Morgan Stanley decreased their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $74.00 price target on shares of Gilead Sciences in a report on Monday, July 1st. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $82.88.

Gilead Sciences Trading Up 2.7 %

NASDAQ GILD traded up $1.90 during trading hours on Wednesday, hitting $73.07. 2,388,029 shares of the company were exchanged, compared to its average volume of 7,406,023. The stock has a 50-day moving average price of $67.30 and a 200 day moving average price of $71.17. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The stock has a market cap of $91.03 billion, a PE ratio of 197.69, a price-to-earnings-growth ratio of 3.10 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data 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. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Gilead Sciences, Inc. will post 3.72 earnings per share for the current fiscal year.

About Gilead Sciences

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.