Fairbanks Capital Management Inc. Reduces Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Fairbanks Capital Management Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 33.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,110 shares of the biopharmaceutical company’s stock after selling 3,060 shares during the period. Fairbanks Capital Management Inc.’s holdings in Gilead Sciences were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of GILD. Norges Bank purchased a new position in Gilead Sciences during the fourth quarter valued at $1,301,624,000. The Manufacturers Life Insurance Company lifted its position in Gilead Sciences by 78.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after purchasing an additional 3,362,505 shares in the last quarter. Vanguard Group Inc. lifted its position in Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Wellington Management Group LLP lifted its position in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares in the last quarter. Finally, abrdn plc lifted its position 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 in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on GILD. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. UBS Group decreased their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Monday, July 8th. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a report on Wednesday, April 24th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of “Hold” and a consensus target price of $81.81.

Gilead Sciences Trading Up 0.4 %

NASDAQ GILD traded up $0.32 during trading hours on Tuesday, hitting $78.05. 6,116,551 shares of the company were exchanged, compared to its average volume of 7,436,799. The stock has a 50-day moving average price of $68.20 and a 200 day moving average price of $70.87. 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 $97.24 billion, a PE ratio of 216.81, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18.

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.