Provident Investment Management buys $27,960,291 stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : Provident Investment Management scooped up 5,100 additional shares in Gilead Sciences during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 338,093 shares of Gilead Sciences which is valued at $27,960,291.Gilead Sciences makes up approximately 5.81% of Provident Investment Management’s portfolio.

Other Hedge Funds, Including , Penserra Capital Management boosted its stake in GILD in the latest quarter, The investment management firm added 56 additional shares and now holds a total of 348 shares of Gilead Sciences which is valued at $28,780.Ifrah Financial Services reduced its stake in GILD by selling 392 shares or 2.26% in the most recent quarter. The Hedge Fund company now holds 16,927 shares of GILD which is valued at $1,433,378. Gilead Sciences makes up approx 0.58% of Ifrah Financial Services’s portfolio.Ray Gerald L Associates Ltd boosted its stake in GILD in the latest quarter, The investment management firm added 950 additional shares and now holds a total of 59,915 shares of Gilead Sciences which is valued at $5,073,602. Gilead Sciences makes up approx 0.82% of Ray Gerald L Associates Ltd’s portfolio.Nippon Life Insurance Co boosted its stake in GILD in the latest quarter, The investment management firm added 2,309 additional shares and now holds a total of 64,608 shares of Gilead Sciences which is valued at $5,471,005. Gilead Sciences makes up approx 0.13% of Nippon Life Insurance Co’s portfolio.Bank Of Stockton reduced its stake in GILD by selling 177 shares or 2.48% in the most recent quarter. The Hedge Fund company now holds 6,963 shares of GILD which is valued at $614,206. Gilead Sciences makes up approx 0.33% of Bank Of Stockton’s portfolio.

Gilead Sciences opened for trading at $82.7 and hit $83.83 on the upside on Monday, eventually ending the session at $83.61, with a gain of 1.10% or 0.91 points. The heightened volatility saw the trading volume jump to 65,08,125 shares. Company has a market cap of $111,354 M.

On the company’s financial health, Gilead Sciences reported $3.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $3.13. The company had revenue of $7794.00 million for the quarter, compared to analysts expectations of $8065.42 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.

Investors should note that on Apr 28, 2016, Gilead Sciences announced a cash dividend of $0.4700. The company’s management has announced Jun 14, 2016 as the ex-dividend date and fixed the record date on Jun 16, 2016. The payable date has been fixed on Jun 29, 2016.

Many Wall Street Analysts have commented on Gilead Sciences. Gilead Sciences was Downgraded by Maxim Group to ” Hold” on Apr 29, 2016. Shares were Reiterated by UBS on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 118 from a previous price target of $130 .Shares were Reiterated by Leerink Partners on Mar 16, 2016 to “Outperform” and Lowered the Price Target to $ 127 from a previous price target of $130 .

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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