Bahl & Gaynor Inc. Sells 10,378 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Bahl & Gaynor Inc. decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 77.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $29,000. Fortitude Family Office LLC acquired a new stake in Gilead Sciences in the 4th quarter valued at about $29,000. Sachetta LLC bought a new position in Gilead Sciences during the fourth quarter worth about $30,000. Palisade Asset Management LLC acquired a new position in Gilead Sciences during the first quarter worth approximately $29,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 27th. Morgan Stanley lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Raymond James raised 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. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Friday, April 26th. Finally, TD Cowen reduced their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Twelve investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $82.88.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction 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 directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD stock traded up $1.90 on Wednesday, reaching $73.07. The company had a trading volume of 2,388,029 shares, compared to its average volume of 7,406,023. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. 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 stock has a market capitalization 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. The business’s 50-day moving average is $67.30 and its 200 day moving average is $71.17.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 3.72 EPS for the current fiscal year.

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.