Manning & Napier Advisors LLC Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Manning & Napier Advisors LLC decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.0% during the 4th quarter, Holdings Channel reports. The firm owned 326,137 shares of the biopharmaceutical company’s stock after selling 28,444 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Gilead Sciences were worth $30,125,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC raised its stake in Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP grew its holdings in Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Gilead Sciences by 723.3% in the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock valued at $594,370,000 after buying an additional 5,653,075 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Gilead Sciences by 350.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after buying an additional 1,793,145 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in 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 purchasing an additional 1,622,806 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Piper Sandler raised their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.39.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $1.76 on Wednesday, reaching $95.61. 755,874 shares of the company were exchanged, compared to its average volume of 6,513,060. The company has a 50-day moving average of $92.00 and a 200-day moving average of $85.44. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm has a market cap of $119.16 billion, a price-to-earnings ratio of 1,062.89, a price-to-earnings-growth ratio of 1.31 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $2.29 earnings per share. Equities analysts forecast that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 456,234 shares of company stock valued at $42,130,461 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.

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.