Van ECK Associates Corp Acquires 22,847 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Van ECK Associates Corp grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,342,831 shares of the biopharmaceutical company’s stock after purchasing an additional 22,847 shares during the period. Van ECK Associates Corp owned about 0.51% of Gilead Sciences worth $553,285,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its holdings in Gilead Sciences by 2.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,005 shares of the biopharmaceutical company’s stock worth $2,264,000 after buying an additional 695 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Gilead Sciences by 0.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 431,085 shares of the biopharmaceutical company’s stock valued at $36,142,000 after acquiring an additional 2,787 shares during the last quarter. F M Investments LLC purchased a new stake in shares of Gilead Sciences during the 3rd quarter valued at about $212,000. Chicago Partners Investment Group LLC grew its stake in shares of Gilead Sciences by 8.6% in the third quarter. Chicago Partners Investment Group LLC now owns 6,850 shares of the biopharmaceutical company’s stock worth $598,000 after acquiring an additional 540 shares during the period. Finally, Creative Capital Management Investments LLC purchased a new position in shares of Gilead Sciences during the third quarter valued at approximately $299,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.8 %

Gilead Sciences stock opened at $89.51 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The firm’s 50 day moving average price is $83.79 and its 200-day moving average price is $74.16. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $89.74. The stock has a market cap of $111.44 billion, a P/E ratio of 109.16, a PEG ratio of 3.09 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 11th. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $75.00 target price on shares of Gilead Sciences in a research report on Tuesday, October 29th. Finally, Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.85.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,847 shares of company stock worth $3,033,340. 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.