Public Employees Retirement Association of Colorado Has $13.05 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Public Employees Retirement Association of Colorado trimmed its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.9% during the first quarter, Holdings Channel.com reports. The firm owned 178,189 shares of the biopharmaceutical company’s stock after selling 7,222 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Gilead Sciences were worth $13,052,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Private Wealth Management Group LLC acquired a new position in Gilead Sciences during the 4th quarter worth $29,000. Palisade Asset Management LLC bought a new stake in shares of Gilead Sciences during the first quarter worth $29,000. Sachetta LLC acquired a new position in shares of Gilead Sciences during the fourth quarter valued at $30,000. Rakuten Securities Inc. bought a new position in Gilead Sciences in the fourth quarter valued at about $33,000. Finally, Gladius Capital Management LP bought a new position in Gilead Sciences in the fourth quarter valued at about $34,000. 83.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GILD has been the subject of several recent research reports. Barclays dropped their price objective on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. TD Cowen cut their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences 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 price target on the stock in a research note on Monday, July 8th. Finally, Robert W. Baird restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Twelve investment 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $81.81.

Gilead Sciences Trading Up 0.9 %

NASDAQ:GILD opened at $77.73 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The business’s 50-day simple moving average is $67.99 and its 200-day simple moving average is $70.93. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The stock has a market capitalization of $96.84 billion, a PE ratio of 215.92, a price-to-earnings-growth ratio of 3.28 and a beta of 0.18.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

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.