GlaxoSmithKline (GSK) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of GlaxoSmithKline (NYSE:GSK) from an underweight rating to an equal weight rating in a report issued on Thursday morning, MarketBeat reports.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of GlaxoSmithKline from a hold rating to a buy rating and set a $40.00 price objective for the company in a research note on Tuesday, January 2nd. UBS raised shares of GlaxoSmithKline from a neutral rating to a buy rating and upped their price objective for the company from $35.04 to $35.85 in a research note on Monday, November 27th. Barclays raised shares of GlaxoSmithKline from an equal weight rating to an overweight rating in a research report on Tuesday, January 16th. Argus dropped their price target on shares of GlaxoSmithKline to $40.00 and set a buy rating for the company in a research report on Thursday, November 30th. Finally, Cowen set a $38.00 price target on shares of GlaxoSmithKline and gave the company a hold rating in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $38.77.

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GlaxoSmithKline stock opened at $37.42 on Thursday. GlaxoSmithKline has a twelve month low of $34.52 and a twelve month high of $44.53. The company has a market cap of $92,780.42, a price-to-earnings ratio of 12.95, a PEG ratio of 2.09 and a beta of 0.95. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 4.09.

GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings data on Wednesday, February 7th. The pharmaceutical company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $9.89 billion. equities research analysts expect that GlaxoSmithKline will post 2.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.633 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.53 annualized dividend and a yield of 6.77%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.50. GlaxoSmithKline’s dividend payout ratio is presently 320.26%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Advisers LP raised its holdings in GlaxoSmithKline by 55.5% in the 4th quarter. Two Sigma Advisers LP now owns 5,074,642 shares of the pharmaceutical company’s stock worth $179,998,000 after purchasing an additional 1,811,400 shares in the last quarter. Millennium Management LLC raised its holdings in GlaxoSmithKline by 259.7% in the 4th quarter. Millennium Management LLC now owns 1,825,451 shares of the pharmaceutical company’s stock worth $64,749,000 after purchasing an additional 1,318,012 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in GlaxoSmithKline by 7.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,416,927 shares of the pharmaceutical company’s stock worth $341,727,000 after purchasing an additional 569,600 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in GlaxoSmithKline by 504.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 604,419 shares of the pharmaceutical company’s stock worth $24,539,000 after purchasing an additional 504,419 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in GlaxoSmithKline by 23.7% in the 4th quarter. Two Sigma Investments LP now owns 2,388,168 shares of the pharmaceutical company’s stock worth $84,708,000 after purchasing an additional 457,276 shares in the last quarter. 10.96% of the stock is owned by institutional investors and hedge funds.

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About GlaxoSmithKline

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.

Analyst Recommendations for GlaxoSmithKline (NYSE:GSK)

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