The market has shown little appreciation for the acquisitive discipline Gilead Sciences (NASDAQ:GILD) has displayed this year. The stock has lost about 25% of its value in 2016, and management has taken advantage of the plunge by repurchasing about 100 million shares of its own stock.
While it’s nice to know the shares were purchased at knockdown prices, it’s hard to remain cheerful when your stock price is sinking. Should Gilead’s extensive buybacks help turn those frowns upside down? Let’s have a closer look to find out.
