Alta Capital Management Lowers stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : Alta Capital Management reduced its stake in Gilead Sciences by 6.09% during the most recent quarter end. The investment management company now holds a total of 196,448 shares of Gilead Sciences which is valued at $14,352,491 after selling 12,746 shares in Gilead Sciences , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Gilead Sciences makes up approximately 0.91% of Alta Capital Management’s portfolio.

Other Hedge Funds, Including , W.g. Shaheen Associates Dba Whitney Co boosted its stake in GILD in the latest quarter, The investment management firm added 4,215 additional shares and now holds a total of 50,050 shares of Gilead Sciences which is valued at $3,656,653. Gilead Sciences makes up approx 1.49% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.North Star Investment Management Corp. reduced its stake in GILD by selling 591 shares or 27.3% in the most recent quarter. The Hedge Fund company now holds 1,574 shares of GILD which is valued at $116,193. Gilead Sciences makes up approx 0.02% of North Star Investment Management Corp.’s portfolio.Terra Nova Asset Management reduced its stake in GILD by selling 4,541 shares or 62.18% in the most recent quarter. The Hedge Fund company now holds 2,762 shares of GILD which is valued at $203,891. Gilead Sciences makes up approx 0.45% of Terra Nova Asset Management’s portfolio.Kelman-lazarov boosted its stake in GILD in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 7,760 shares of Gilead Sciences which is valued at $585,802. Gilead Sciences makes up approx 0.33% of Kelman-lazarov’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in GILD by selling 7,786 shares or 2.26% in the most recent quarter. The Hedge Fund company now holds 336,956 shares of GILD which is valued at $25,352,569. Gilead Sciences makes up approx 0.53% of Exxonmobil Investment Management Inc Tx’s portfolio.

Gilead Sciences closed down -1.67 points or -2.21% at $73.82 with 1,19,09,999 shares getting traded on Tuesday. Post opening the session at $75.14, the shares hit an intraday low of $73.56 and an intraday high of $75.28 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Gilead Sciences reported $3.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $3.01. The company had revenue of $7776.00 million for the quarter, compared to analysts expectations of $7795.08 million. The company’s revenue was down -5.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.15 EPS.

Many Wall Street Analysts have commented on Gilead Sciences. Shares were Reiterated by RBC Capital Mkts on Oct 3, 2016 to “Outperform” and Lowered the Price Target to $ 95 from a previous price target of $105 .Shares were Downgraded by Leerink Partners on Sep 27, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 94 from a previous price target of $112 .Berenberg Initiated Gilead Sciences on Sep 12, 2016 to “Buy”, Price Target of the shares are set at $112.

Gilead Sciences Inc. (Gilead) is a research-based biopharmaceutical company that discovers develops and commercializes innovative medicines. The Company’s primary areas of focus include human immunodeficiency virus (HIV) liver diseases such as chronic hepatitis C virus (HCV) infection and chronic hepatitis B virus (HBV) infection oncology and inflammation and serious cardiovascular and respiratory conditions. The Company’s HIV products include Stribild Complera/Eviplera Atripla Truvada Viread Emtriva Tybost and Vitekta. Its Liver Diseases products include Harvoni Sovaldi Viread and Hepsera. Zydelig is the Company’s oncology product. Its Cardiovascular products include Letairis Ranexa and Lexiscan/Rapiscan. Its Respiratory products include Cayston and Tamiflu. Its other products include AmBisome and Macugen.

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