GlaxoSmithKline PLC (NYSE:GSK) Downgraded to “Strong Sell” at BidaskClub

GlaxoSmithKline PLC (NYSE:GSK) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Monday, July 24th.

GSK has been the subject of several other research reports. Zacks Investment Research lowered shares of GlaxoSmithKline PLC from a “hold” rating to a “sell” rating in a research report on Monday, April 17th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 13th. BNP Paribas decreased their price objective on shares of GlaxoSmithKline PLC to $37.00 in a research note on Thursday, April 6th. Berenberg Bank upgraded shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Finally, TheStreet upgraded shares of GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research note on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. GlaxoSmithKline PLC presently has an average rating of “Hold” and a consensus price target of $46.00.

GlaxoSmithKline PLC (NYSE GSK) traded down 0.28% on Monday, reaching $38.79. The company’s stock had a trading volume of 2,329,225 shares. The firm has a 50-day moving average of $41.84 and a 200-day moving average of $41.84. The company has a market capitalization of $94.80 billion, a PE ratio of 37.51 and a beta of 1.03. GlaxoSmithKline PLC has a one year low of $37.20 and a one year high of $44.59.

GlaxoSmithKline PLC (NYSE:GSK) last posted its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $9.36 billion during the quarter, compared to analyst estimates of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. Analysts predict that GlaxoSmithKline PLC will post $2.85 EPS for the current year.

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Hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in GlaxoSmithKline PLC by 5.9% in the second quarter. FMR LLC now owns 25,024,276 shares of the pharmaceutical company’s stock worth $1,079,047,000 after buying an additional 1,389,238 shares during the period. Fisher Asset Management LLC raised its position in shares of GlaxoSmithKline PLC by 4.7% in the second quarter. Fisher Asset Management LLC now owns 12,534,385 shares of the pharmaceutical company’s stock valued at $540,483,000 after buying an additional 564,519 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of GlaxoSmithKline PLC by 112.1% in the second quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock valued at $402,655,000 after buying an additional 4,935,900 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of GlaxoSmithKline PLC by 4.3% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,847,327 shares of the pharmaceutical company’s stock valued at $338,377,000 after buying an additional 322,700 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of GlaxoSmithKline PLC by 15.8% in the first quarter. Bank of America Corp DE now owns 6,849,632 shares of the pharmaceutical company’s stock valued at $288,780,000 after buying an additional 934,928 shares during the last quarter. 8.96% of the stock is owned by institutional investors and hedge funds.

About GlaxoSmithKline PLC

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 PLC (NYSE:GSK)

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