Harvey Capital Management Inc Lowers stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : Harvey Capital Management Inc reduced its stake in Gilead Sciences by 3.49% during the most recent quarter end. The investment management company now holds a total of 121,065 shares of Gilead Sciences which is valued at $12,340,155 after selling 4,375 shares in Gilead Sciences , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Gilead Sciences makes up approximately 5.70% of Harvey Capital Management Inc’s portfolio.

Gilead Sciences opened for trading at $101.56 and hit $102.45 on the upside on Friday, eventually ending the session at $101.93, with a gain of 0.19% or 0.19 points. The heightened volatility saw the trading volume jump to 1,03,01,937 shares. Company has a market cap of $139,323 M.

Other Hedge Funds, Including , Oliver Luxxe Assets sold out all of its stake in GILD during the most recent quarter. The investment firm sold 4,821 shares of GILD which is valued $491,405.Oregon Public Employees Retirement Fund reduced its stake in GILD by selling 400 shares or 0.15% in the most recent quarter. The Hedge Fund company now holds 265,754 shares of GILD which is valued at $26,120,961. Gilead Sciences makes up approx 0.59% of Oregon Public Employees Retirement Fund’s portfolio.Koshinski Asset Management boosted its stake in GILD in the latest quarter, The investment management firm added 1,392 additional shares and now holds a total of 7,168 shares of Gilead Sciences which is valued at $704,543. Gilead Sciences makes up approx 0.45% of Koshinski Asset Management’s portfolio.

On the company’s financial health, Gilead Sciences reported $3.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.34 according to the earnings call on Feb 2, 2016. Analyst had a consensus of $2.98. The company had revenue of $8506.00 million for the quarter, compared to analysts expectations of $8163.83 million. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 EPS.

Many Wall Street Analysts have commented on Gilead Sciences. 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 .Citigroup Initiated Gilead Sciences on Feb 25, 2016 to “Buy”, Price Target of the shares are set at $110.Shares were Reiterated by Maxim Group on Feb 12, 2016 to “Buy” and Lowered the Price Target to $ 115 from a previous price target of $137 .

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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