GSK (NYSE:GSK) Downgraded by Guggenheim to “Neutral”

GSK (NYSE:GSK) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, FinViz reports.

A number of other equities analysts have also recently issued reports on GSK. UBS Group cut GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, GSK has a consensus rating of “Moderate Buy” and an average target price of $50.00.

GSK Price Performance

GSK stock opened at $37.01 on Thursday. GSK has a 52 week low of $33.67 and a 52 week high of $45.92. The business has a 50-day simple moving average of $40.88 and a 200 day simple moving average of $41.08. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99. The stock has a market cap of $76.70 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.23 and a beta of 0.65.

GSK (NYSE:GSK) last posted its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.49 billion. On average, research analysts forecast that GSK will post 4.14 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GSK. Eastern Bank purchased a new position in shares of GSK during the 3rd quarter worth approximately $26,000. Concord Wealth Partners grew its stake in shares of GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of GSK in the 2nd quarter worth approximately $37,000. Fortitude Family Office LLC purchased a new stake in shares of GSK in the 3rd quarter worth approximately $42,000. Finally, PrairieView Partners LLC purchased a new stake in shares of GSK in the 2nd quarter worth approximately $47,000. 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.