Convector Capital Management Lp buys $9.6 Million stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : Convector Capital Management Lp scooped up 28,450 additional shares in Gilead Sciences during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 116,050 shares of Gilead Sciences which is valued at $9.6 Million.Gilead Sciences makes up approximately 10.59% of Convector Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Walter Keenan Financial Consulting Co Mi Adv reduced its stake in GILD by selling 1,000 shares or 25.0% in the most recent quarter. The Hedge Fund company now holds 3,000 shares of GILD which is valued at $248,100. Gilead Sciences makes up approx 0.07% of Walter Keenan Financial Consulting Co Mi Adv’s portfolio.Westend Advisors boosted its stake in GILD in the latest quarter, The investment management firm added 124,198 additional shares and now holds a total of 1,082,574 shares of Gilead Sciences which is valued at $89.5 Million. Gilead Sciences makes up approx 4.56% of Westend Advisors’s portfolio.Whittier Trust Co boosted its stake in GILD in the latest quarter, The investment management firm added 5,977 additional shares and now holds a total of 138,783 shares of Gilead Sciences which is valued at $12.2 Million. Gilead Sciences makes up approx 0.54% of Whittier Trust Co’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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