Rhenman Partners Asset Management Ab buys $19,221,600 stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : Rhenman Partners Asset Management Ab scooped up 60,000 additional shares in Gilead Sciences during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 240,000 shares of Gilead Sciences which is valued at $19,221,600.Gilead Sciences makes up approximately 3.07% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , Ngam Advisors boosted its stake in GILD in the latest quarter, The investment management firm added 14,813 additional shares and now holds a total of 169,428 shares of Gilead Sciences which is valued at $13,569,489. Gilead Sciences makes up approx 0.18% of Ngam Advisors’s portfolio.Meeder Asset Management Inc reduced its stake in GILD by selling 10,563 shares or 21.62% in the most recent quarter. The Hedge Fund company now holds 38,284 shares of GILD which is valued at $3,313,480. Gilead Sciences makes up approx 0.30% of Meeder Asset Management Inc’s portfolio.Delta Asset Managementtn boosted its stake in GILD in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 102 shares of Gilead Sciences which is valued at $8,828.Carroll Financial Associates boosted its stake in GILD in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 4,875 shares of Gilead Sciences which is valued at $422,468. Gilead Sciences makes up approx 0.07% of Carroll Financial Associates’s portfolio.Handelsbanken Fonder Ab reduced its stake in GILD by selling 93,000 shares or 28.41% in the most recent quarter. The Hedge Fund company now holds 234,341 shares of GILD which is valued at $20,371,263. Gilead Sciences makes up approx 0.81% of Handelsbanken Fonder Ab’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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