StockNews.com Downgrades GSK (NYSE:GSK) to Buy

GSK (NYSE:GSK) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other analysts have also issued reports about the company. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GSK presently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Up 0.5 %

GSK stock opened at $33.60 on Friday. The firm has a market capitalization of $69.64 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.64. The firm’s fifty day moving average price is $35.65 and its two-hundred day moving average price is $38.92. GSK has a 1-year low of $32.83 and a 1-year high of $45.92. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

Insider Activity

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On GSK

Large investors have recently modified their holdings of the business. Eastern Bank purchased a new stake in shares of GSK during the 3rd quarter valued at approximately $26,000. Sunbelt Securities Inc. lifted its position in shares of GSK by 73.8% during the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock worth $29,000 after acquiring an additional 302 shares in the last quarter. Concord Wealth Partners boosted its holdings in shares of GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after acquiring an additional 547 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of GSK in the second quarter valued at $37,000. Finally, Fortitude Family Office LLC bought a new stake in shares of GSK during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

About GSK

GSK plc, together with its subsidiaries, engages in the research, development, and manufacture of vaccines, and specialty and general medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through two segments, Commercial Operations and Total R&D.