GSK PLC Sponsored ADR (NYSE:GSK) Receives $53.00 Consensus Price Target from Brokerages

GSK PLC Sponsored ADR (NYSE:GSK) has been assigned a consensus rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $53.00.

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded GSK from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. HSBC upgraded GSK from a “reduce” rating to a “hold” rating in a report on Monday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GSK in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of GSK in a report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of GSK from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th.

Hedge Funds Weigh In On GSK

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC raised its position in shares of GSK by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 33,195,985 shares of the pharmaceutical company’s stock valued at $1,627,931,000 after buying an additional 968,370 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of GSK by 2,032.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 854,331 shares of the pharmaceutical company’s stock valued at $41,896,000 after acquiring an additional 814,275 shares during the last quarter. Ameriprise Financial Inc. grew its position in GSK by 1.2% in the second quarter. Ameriprise Financial Inc. now owns 401,777 shares of the pharmaceutical company’s stock worth $15,444,000 after acquiring an additional 4,855 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in GSK in the fourth quarter worth about $6,385,000. Finally, Align Financial LLC bought a new stake in GSK during the fourth quarter worth approximately $5,628,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting GSK

Here are the key news stories impacting GSK this week:

• Positive Sentiment: GSK reported encouraging interim Phase II AZUR-1 results showing Jemperli met the primary endpoint in locally advanced rectal cancer, with a meaningful share of patients showing no detectable cancer for one year or more. The data could support future regulatory filings and expand the drug’s potential market. Article Title
• Positive Sentiment: Multiple reports highlighted the same positive rectal cancer trial readout, reinforcing the idea that Jemperli could become a more important growth driver for GSK if later-stage development and filings progress. Article Title
• Neutral Sentiment: UBS reiterated its neutral rating on GSK ahead of second-quarter results and a July 28 strategy update from the new CEO, suggesting investors are waiting for clearer guidance on the company’s next growth plan. Article Title
• Neutral Sentiment: News that Unilever will acquire GSK’s health food portfolio for 3.1 billion pounds may support capital allocation flexibility, but the article does not provide enough detail to clearly judge the near-term impact on GSK’s shares. Article Title

GSK Stock Down 1.9%

GSK opened at $51.27 on Friday. The company has a market capitalization of $103.71 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 3.36 and a beta of 0.35. The firm has a 50-day simple moving average of $51.46 and a two-hundred day simple moving average of $53.31. The company has a quick ratio of 0.52, a current ratio of 0.79 and a debt-to-equity ratio of 0.80. GSK has a 52 week low of $35.45 and a 52 week high of $61.69.

GSK Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Friday, May 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 3.4%. GSK’s dividend payout ratio is presently 46.49%.

GSK Company Profile

GSK (GlaxoSmithKline plc) is a London-headquartered, multinational pharmaceutical and healthcare company formed through the 2000 merger of Glaxo Wellcome and SmithKline Beecham. The company is dual-listed and operates globally, developing, manufacturing and commercializing prescription medicines, vaccines and specialty treatments. Over its history GSK has evolved through portfolio reshaping and strategic transactions to focus on science-led pharmaceuticals and vaccines.

GSK’s core activities include research and development of therapies and vaccines across a range of therapeutic areas, commercial manufacturing, and global marketing.