Summit Street Capital Management buys $2.7 Million stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : Summit Street Capital Management scooped up 1,300 additional shares in Gilead Sciences during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 32,312 shares of Gilead Sciences which is valued at $2.7 Million.Gilead Sciences makes up approximately 3.00% of Summit Street Capital Management’s portfolio.

Other Hedge Funds, Including , Green Valley Investors reduced its stake in GILD by selling 512,724 shares or 17.09% in the most recent quarter. The Hedge Fund company now holds 2,487,276 shares of GILD which is valued at $205.7 Million. Gilead Sciences makes up approx 5.00% of Green Valley Investors’s portfolio. Huntington Asset Advisors sold out all of its stake in GILD during the most recent quarter. The investment firm sold 943 shares of GILD which is valued $77,986.Clarius Group reduced its stake in GILD by selling 141 shares or 5.33% in the most recent quarter. The Hedge Fund company now holds 2,505 shares of GILD which is valued at $207,164. Gilead Sciences makes up approx 0.11% of Clarius Group’s portfolio.Hugh Johnson Advisors boosted its stake in GILD in the latest quarter, The investment management firm added 16 additional shares and now holds a total of 20,217 shares of Gilead Sciences which is valued at $1.7 Million. Gilead Sciences makes up approx 0.66% of Hugh Johnson Advisors’s portfolio.

Gilead Sciences opened for trading at $86.8 and hit $87 on the upside on Wednesday, eventually ending the session at $86.51, with a gain of 0.34% or 0.29 points. The heightened volatility saw the trading volume jump to 1,16,53,582 shares. Company has a market cap of $115,216 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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