Shares of GSK PLC Sponsored ADR (NYSE:GSK – Get Free Report) saw strong trading volume on Friday . 6,758,024 shares changed hands during mid-day trading, an increase of 46% from the previous session’s volume of 4,635,394 shares.The stock last traded at $51.6060 and had previously closed at $52.77.
GSK News Summary
Here are the key news stories impacting GSK this week:
- Positive Sentiment: Jefferies resumed coverage on GSK with a Buy rating and a price target implying roughly 30% upside, arguing recent business-development deals strengthen the company’s long-term revenue outlook. Article Title
- Neutral Sentiment: GSK said camlipixant will still continue in a separate Phase 2b study for irritable bowel syndrome, leaving some optionality for the drug despite the cough-program setback. Article Title
- Negative Sentiment: GSK halted further development of camlipixant for refractory chronic cough after the Phase 3 program missed a main efficacy goal, a setback that may reduce confidence in the company’s respiratory pipeline. Article Title
Analyst Upgrades and Downgrades
GSK has been the subject of several research analyst reports. Weiss Ratings downgraded shares of GSK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded GSK from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of GSK in a research report on Thursday, July 9th. HSBC upgraded GSK from a “reduce” rating to a “hold” rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of GSK in a research note on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.00.
GSK Trading Down 1.8%
The company has a market capitalization of $104.79 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 3.31 and a beta of 0.35. The company’s fifty day moving average is $51.55 and its 200-day moving average is $53.34. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.79 and a quick ratio of 0.52.
GSK Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Friday, May 15th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. GSK’s dividend payout ratio (DPR) is 46.49%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in GSK. Valeo Financial Advisors LLC raised its position in shares of GSK by 5.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,149 shares of the pharmaceutical company’s stock worth $532,000 after acquiring an additional 532 shares in the last quarter. GAMMA Investing LLC boosted its position in GSK by 8.0% during the second quarter. GAMMA Investing LLC now owns 11,330 shares of the pharmaceutical company’s stock valued at $594,000 after purchasing an additional 840 shares in the last quarter. Parallel Advisors LLC grew its stake in GSK by 17.5% in the first quarter. Parallel Advisors LLC now owns 9,424 shares of the pharmaceutical company’s stock valued at $520,000 after purchasing an additional 1,405 shares during the last quarter. Arkadios Wealth Advisors grew its stake in GSK by 0.6% in the first quarter. Arkadios Wealth Advisors now owns 108,026 shares of the pharmaceutical company’s stock valued at $5,962,000 after purchasing an additional 647 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in GSK by 67.6% in the first quarter. EverSource Wealth Advisors LLC now owns 6,092 shares of the pharmaceutical company’s stock worth $336,000 after purchasing an additional 2,457 shares in the last quarter. 15.74% of the stock is currently owned by hedge funds and other institutional investors.
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.
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