Envestnet Asset Management Inc Lowers stake in Gilead Sciences (GILD)

Gilead Sciences (GILD) : Envestnet Asset Management Inc reduced its stake in Gilead Sciences by 12.73% during the most recent quarter end. The investment management company now holds a total of 401,489 shares of Gilead Sciences which is valued at $30,814,281 after selling 58,583 shares in Gilead Sciences , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Gilead Sciences makes up approximately 0.12% of Envestnet Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Passport Capital reduced its stake in GILD by selling 727,248 shares or 99.56% in the most recent quarter. The Hedge Fund company now holds 3,224 shares of GILD which is valued at $247,442. Gilead Sciences makes up approx 0.01% of Passport Capital’s portfolio.Hellman Jordan Management Co Inc boosted its stake in GILD in the latest quarter, The investment management firm added 4,100 additional shares and now holds a total of 26,867 shares of Gilead Sciences which is valued at $1,948,126. Gilead Sciences makes up approx 2.00% of Hellman Jordan Management Co Inc’s portfolio. 1st Global Advisors sold out all of its stake in GILD during the most recent quarter. The investment firm sold 5,169 shares of GILD which is valued $379,094.Jag Capital Management reduced its stake in GILD by selling 225 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 16,748 shares of GILD which is valued at $1,228,298. Gilead Sciences makes up approx 0.25% of Jag Capital Management’s portfolio.

Gilead Sciences closed down -0.96 points or -1.27% at $74.62 with 81,94,306 shares getting traded on Monday. Post opening the session at $75.59, the shares hit an intraday low of $74.25 and an intraday high of $75.74 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Gilead Sciences reported $2.75 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus of $2.84. The company had revenue of $7500.00 million for the quarter, compared to analysts expectations of $7440.39 million. The company’s revenue was down -9.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.22 EPS.

Investors should note that on Nov 1, 2016, Gilead Sciences announced a cash dividend of $0.4700. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Dec 29, 2016.

Many Wall Street Analysts have commented on Gilead Sciences. Stifel Initiated Gilead Sciences on Nov 14, 2016 to “Buy”, Price Target of the shares are set at $100.Mizuho Initiated Gilead Sciences on Nov 8, 2016 to “Buy”, Price Target of the shares are set at $88.Shares were Reiterated by RBC Capital Mkts on Nov 2, 2016 to “Outperform” and Lowered the Price Target to $ 90 from a previous price target of $95 .

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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