Gilead Sciences, Inc. (GILD) Stake Lessened by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 20.6% during the third quarter, HoldingsChannel.com reports. The fund owned 33,740 shares of the biopharmaceutical company’s stock after selling 8,770 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Gilead Sciences were worth $2,734,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GILD. Hanson & Doremus Investment Management grew its position in Gilead Sciences by 806.5% during the third quarter. Hanson & Doremus Investment Management now owns 1,813 shares of the biopharmaceutical company’s stock valued at $147,000 after purchasing an additional 1,613 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Gilead Sciences during the second quarter valued at approximately $147,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Gilead Sciences by 29.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,120 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 480 shares in the last quarter. Rowland & Co. Investment Counsel ADV purchased a new position in Gilead Sciences during the second quarter valued at approximately $153,000. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new position in Gilead Sciences during the second quarter valued at approximately $172,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

A number of brokerages recently commented on GILD. Credit Suisse Group set a $80.00 price objective on shares of Gilead Sciences and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Oppenheimer began coverage on shares of Gilead Sciences in a research report on Thursday, October 5th. They set a “market perform” rating on the stock. Mizuho boosted their price objective on shares of Gilead Sciences from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Leerink Swann boosted their price objective on shares of Gilead Sciences from $87.00 to $89.00 and gave the company a “market perform” rating in a research report on Thursday, October 5th. Finally, BMO Capital Markets lowered their price objective on shares of Gilead Sciences from $89.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $85.03.

In related news, EVP Gregg H. Alton sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $74.82, for a total transaction of $1,122,300.00. Following the completion of the transaction, the executive vice president now directly owns 77,363 shares in the company, valued at approximately $5,788,299.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John F. Milligan sold 220,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $72.88, for a total transaction of $16,033,600.00. The disclosure for this sale can be found here. Insiders sold 461,666 shares of company stock valued at $34,072,567 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Shares of Gilead Sciences, Inc. (NASDAQ GILD) opened at $79.02 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 3.68 and a quick ratio of 3.56. Gilead Sciences, Inc. has a one year low of $63.76 and a one year high of $86.27. The firm has a market cap of $103,190.00, a price-to-earnings ratio of 8.99, a PEG ratio of -1.58 and a beta of 1.13.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.14. Gilead Sciences had a net margin of 42.22% and a return on equity of 57.15%. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the previous year, the company earned $2.75 earnings per share. Gilead Sciences’s revenue for the quarter was down 13.2% on a year-over-year basis. research analysts anticipate that Gilead Sciences, Inc. will post 8.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Friday, December 15th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, December 14th. Gilead Sciences’s payout ratio is 23.66%.

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Gilead Sciences Company Profile

Gilead Sciences, Inc is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in areas of unmet medical need. The Company’s portfolio of products and pipeline of investigational drugs includes treatments for Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome (HIV/AIDS), liver diseases, cancer, inflammatory and respiratory diseases and cardiovascular conditions.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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