Zacks Investment Research upgraded shares of GlaxoSmithKline (NYSE:GSK) from a hold rating to a buy rating in a research note released on Tuesday, January 9th. They currently have $42.00 price target on the pharmaceutical company’s stock.
According to Zacks, “Glaxo enjoys a diversified base and presence in different geographical areas. Glaxo should continue to see strong performance in its Pharmaceuticals and Vaccines business units. We are positive on the company’s efforts to develop its pipeline. We think Glaxo possesses one of the stronger late-stage pipelines in large-cap pharma. Performance of new products has been encouraging. Meanwhile, back-to-back approvals of three new products – Trelegy Ellipta, Shingrix and Jucalla – have strengthened Glaxo’s competitive position. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. The slowdown in sales of the Consumer Healthcare segment this year is also a concern. Estimates have declined slightly ahead of Q4 earnings release. However, Glaxo has a positive record of earnings surprises in recent quarters.”
A number of other equities analysts have also recently issued reports on GSK. JPMorgan Chase & Co. reiterated a neutral rating on shares of GlaxoSmithKline in a report on Thursday, September 21st. ValuEngine cut GlaxoSmithKline from a buy rating to a hold rating in a research note on Sunday, December 31st. Investec lowered GlaxoSmithKline from a buy rating to a hold rating in a research report on Monday, November 6th. Bank of America lowered GlaxoSmithKline from a buy rating to a neutral rating in a report on Thursday, October 26th. Finally, Cowen set a $38.00 target price on GlaxoSmithKline and gave the company a hold rating in a report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $38.57.
Shares of GlaxoSmithKline (GSK) traded up $0.03 during mid-day trading on Tuesday, hitting $38.20. 3,478,233 shares of the stock were exchanged, compared to its average volume of 5,510,000. The company has a market capitalization of $93,270.00, a price-to-earnings ratio of 28.94, a PEG ratio of 2.36 and a beta of 0.97. GlaxoSmithKline has a twelve month low of $34.52 and a twelve month high of $44.53. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64.
GlaxoSmithKline (NYSE:GSK) last released its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. GlaxoSmithKline had a net margin of 7.79% and a return on equity of 115.30%. The firm had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.22 billion. equities analysts predict that GlaxoSmithKline will post 2.91 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Friday, November 10th were issued a $0.5037 dividend. This represents a $2.01 annualized dividend and a yield of 5.27%. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.49. The ex-dividend date was Thursday, November 9th. GlaxoSmithKline’s payout ratio is 154.55%.
In other news, major shareholder Plc Glaxosmithkline bought 428,571 shares of the stock in a transaction on Monday, November 6th. The shares were bought at an average price of $14.00 per share, with a total value of $5,999,994.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GSK. FinTrust Investment Advisory Services LLC purchased a new position in GlaxoSmithKline during the 3rd quarter valued at approximately $401,000. Private Advisor Group LLC lifted its stake in shares of GlaxoSmithKline by 7.2% during the 3rd quarter. Private Advisor Group LLC now owns 77,976 shares of the pharmaceutical company’s stock worth $3,166,000 after acquiring an additional 5,212 shares during the last quarter. San Francisco Sentry Investment Group CA increased its holdings in GlaxoSmithKline by 110.3% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 8,749 shares of the pharmaceutical company’s stock worth $356,000 after purchasing an additional 4,589 shares during the period. Renaissance Technologies LLC increased its holdings in GlaxoSmithKline by 112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after purchasing an additional 4,935,900 shares during the period. Finally, SG Americas Securities LLC purchased a new position in GlaxoSmithKline during the 3rd quarter worth $1,209,000. Hedge funds and other institutional investors own 9.80% of the company’s stock.
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GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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