Here’s What Hedge Funds Think About Gilead Sciences, Inc. (GILD)

Because Gilead Sciences, Inc. (NASDAQ:GILD) has witnessed declining sentiment from the aggregate hedge fund industry, we can see that there were a few hedge funds that elected to cut their entire stakes heading into Q4. It’s worth mentioning that Tony Chedraoui’s Tyrus Capital dumped the biggest stake of the 700 funds monitored by Insider Monkey, comprising an estimated $85.9 million in call options.. Matthew Hulsizer’s fund, PEAK6 Capital Management, also dumped its call options., about $45.9 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest dropped by 1 funds heading into Q4.

Let’s also examine hedge fund activity in other stocks similar to Gilead Sciences, Inc. (NASDAQ:GILD). We will take a look at PepsiCo, Inc. (NYSE:PEP), Comcast Corporation (NASDAQ:CMCSA), Medtronic, Inc. (NYSE:MDT), and Cisco Systems, Inc. (NASDAQ:CSCO). This group of stocks’ market valuations resemble GILD’s market valuation.

As you can see these stocks had an average of 65 hedge funds with bullish positions and the average amount invested in these stocks was $5.47 billion. That figure was $4.52 billion in GILD’s case. Comcast Corporation (NASDAQ:CMCSA) is the most popular stock in this table. On the other hand Medtronic, Inc. (NYSE:MDT) is the least popular one with only 57 bullish hedge fund positions. Compared to these stocks Gilead Sciences, Inc. (NASDAQ:GILD) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.