California State Teachers Retirement System Lowers stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : California State Teachers Retirement System reduced its stake in Gilead Sciences by 3.18% during the most recent quarter end. The investment management company now holds a total of 2,811,552 shares of Gilead Sciences which is valued at $225,177,200 after selling 92,407 shares in Gilead Sciences , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Gilead Sciences makes up approximately 0.47% of California State Teachers Retirement System’s portfolio.

Other Hedge Funds, Including , Trimtabs Asset Management sold out all of its stake in GILD during the most recent quarter. The investment firm sold 15,441 shares of GILD which is valued $1,236,670.Whittier Trust Co Of Nevada Inc boosted its stake in GILD in the latest quarter, The investment management firm added 1,610 additional shares and now holds a total of 79,703 shares of Gilead Sciences which is valued at $6,333,997. Gilead Sciences makes up approx 0.70% of Whittier Trust Co Of Nevada Inc’s portfolio.Pointe Capital Management reduced its stake in GILD by selling 3,905 shares or 46.34% in the most recent quarter. The Hedge Fund company now holds 4,522 shares of GILD which is valued at $369,854. Gilead Sciences makes up approx 0.27% of Pointe Capital Management’s portfolio.Oakbrook Investments boosted its stake in GILD in the latest quarter, The investment management firm added 53,370 additional shares and now holds a total of 390,440 shares of Gilead Sciences which is valued at $33,792,582. Gilead Sciences makes up approx 1.81% of Oakbrook Investments’s portfolio.Washington Trust Bank reduced its stake in GILD by selling 5,359 shares or 46.76% in the most recent quarter. The Hedge Fund company now holds 6,102 shares of GILD which is valued at $528,128. Gilead Sciences makes up approx 0.14% of Washington Trust Bank’s portfolio.

Gilead Sciences closed down -0.32 points or -0.40% at $79.77 with 97,38,262 shares getting traded on Thursday. Post opening the session at $80.21, the shares hit an intraday low of $79.55 and an intraday high of $80.63 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

Investors should note that on Jul 25, 2016, Gilead Sciences announced a cash dividend of $0.4700. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 29, 2016.

Many Wall Street Analysts have commented on Gilead Sciences. Gilead Sciences was Downgraded by Argus to ” Hold” on Jul 29, 2016. Shares were Reiterated by RBC Capital Mkts on Jul 26, 2016 to “Outperform” and Lowered the Price Target to $ 105 from a previous price target of $120 .Gilead Sciences was Downgraded by Needham to ” Hold” on Jul 26, 2016.

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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