Orrstown Financial Services Inc. Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Orrstown Financial Services Inc. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,704 shares of the biopharmaceutical company’s stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Manning & Napier Advisors LLC acquired a new stake in shares of Gilead Sciences in the second quarter worth approximately $25,328,000. Legal & General Group Plc grew its holdings in shares of Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after buying an additional 93,068 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Gilead Sciences in the first quarter valued at about $462,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after buying an additional 33,162 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in Gilead Sciences by 127.6% during the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock worth $15,668,000 after acquiring an additional 119,909 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on GILD shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research note on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Wells Fargo & Company upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $78.00 to $100.00 in a report on Monday, October 7th. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, BMO Capital Markets increased their price target on shares of Gilead Sciences from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.85.

Gilead Sciences Stock Performance

Shares of GILD opened at $88.76 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $89.74. The stock has a market capitalization of $110.58 billion, a PE ratio of 246.56, a PEG ratio of 3.07 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a 50-day simple moving average of $82.75 and a 200-day simple moving average of $73.62.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.64 billion. On average, analysts predict that Gilead Sciences, Inc. will post 3.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the 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 completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,033,340 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

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.