GlaxoSmithKline (NYSE:GSK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Glaxo beat estimates for both earnings and sales in Q4. Performance of new products has been encouraging. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. Meanwhile’s Glaxo’s inhaled respiratory products, particularly the older ones, are facing competitive and continued pricing pressure, which is expected to continue through 2018. Its top-selling respiratory product, Advair is also expected to face generic competition in the United States this year, which will further hurt sales. The weakness of the Consumer Healthcare segment due to a slowdown in global growth of its key consumer categories is also a concern. Glaxo’s shares have underperformed the broader industry in the past year.”
Other research analysts have also recently issued reports about the stock. TheStreet cut shares of GlaxoSmithKline from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Kepler Capital Markets upgraded shares of GlaxoSmithKline from a “reduce” rating to a “hold” rating in a report on Friday, February 9th. Cowen restated a “hold” rating and set a $40.00 price target on shares of GlaxoSmithKline in a report on Thursday, February 15th. Investec cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, February 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $38.97.
GlaxoSmithKline (NYSE GSK) opened at $37.48 on Wednesday. GlaxoSmithKline has a twelve month low of $34.52 and a twelve month high of $44.53. The firm has a market cap of $93,461.99, a PE ratio of 47.41, a P/E/G ratio of 2.37 and a beta of 0.98. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 4.09.
GlaxoSmithKline (NYSE:GSK) last released its quarterly earnings results on Wednesday, February 7th. The pharmaceutical company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. GlaxoSmithKline had a net margin of 4.97% and a return on equity of 130.63%. The business had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $9.89 billion. analysts predict that GlaxoSmithKline will post 2.85 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GSK. Two Sigma Advisers LP boosted its stake in GlaxoSmithKline by 55.5% in the fourth quarter. Two Sigma Advisers LP now owns 5,074,642 shares of the pharmaceutical company’s stock valued at $179,998,000 after acquiring an additional 1,811,400 shares during the last quarter. Millennium Management LLC boosted its stake in GlaxoSmithKline by 259.7% in the fourth quarter. Millennium Management LLC now owns 1,825,451 shares of the pharmaceutical company’s stock valued at $64,749,000 after acquiring an additional 1,318,012 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in GlaxoSmithKline by 7.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,416,927 shares of the pharmaceutical company’s stock valued at $341,727,000 after acquiring an additional 569,600 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in GlaxoSmithKline by 504.4% in the third quarter. Point72 Asset Management L.P. now owns 604,419 shares of the pharmaceutical company’s stock valued at $24,539,000 after acquiring an additional 504,419 shares during the last quarter. Finally, Seatown Holdings Pte. Ltd. purchased a new position in GlaxoSmithKline in the third quarter valued at about $20,148,000. Hedge funds and other institutional investors own 9.17% 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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