GSK (NYSE:GSK) Cut to Buy at StockNews.com

StockNews.com lowered shares of GSK (NYSE:GSK) from a strong-buy rating to a buy rating in a report issued on Wednesday.

Several other research analysts also recently weighed in on the stock. BNP Paribas started coverage on shares of GSK in a research report on Tuesday. They set a “neutral” rating and a $35.25 price target for the company. Morgan Stanley started coverage on GSK in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, GSK presently has a consensus rating of “Moderate Buy” and an average price target of $40.58.

GSK Stock Down 0.8 %

GSK stock opened at $35.38 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. The stock has a market capitalization of $73.00 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.56. The business has a 50 day simple moving average of $37.45 and a 200-day simple moving average of $36.17. GSK has a 12 month low of $31.72 and a 12 month high of $45.93.

GSK (NYSE:GSK) last issued its quarterly earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.44 by $0.15. GSK had a net margin of 8.13% and a return on equity of 48.59%. On average, analysts anticipate that GSK will post 4.14 EPS for the current fiscal year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Friday, February 21st were given a $0.3932 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from GSK’s previous quarterly dividend of $0.39. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.44%. GSK’s dividend payout ratio is 100.63%.

Hedge Funds Weigh In On GSK

A number of institutional investors have recently added to or reduced their stakes in GSK. Hennessy Advisors Inc. grew its holdings in GSK by 31.4% in the 1st quarter. Hennessy Advisors Inc. now owns 163,660 shares of the pharmaceutical company’s stock valued at $6,340,000 after buying an additional 39,100 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of GSK by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 178,510 shares of the pharmaceutical company’s stock valued at $6,915,000 after acquiring an additional 3,822 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in shares of GSK in the first quarter valued at about $201,000. Salem Investment Counselors Inc. increased its position in GSK by 27.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,348 shares of the pharmaceutical company’s stock worth $92,000 after purchasing an additional 500 shares during the last quarter. Finally, Thomasville National Bank raised its stake in GSK by 78.5% during the first quarter. Thomasville National Bank now owns 876,997 shares of the pharmaceutical company’s stock worth $33,975,000 after purchasing an additional 385,556 shares during the period. 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.