Morgan Stanley Lowers GlaxoSmithKline PLC (GSK) to Underweight
Morgan Stanley cut shares of GlaxoSmithKline PLC (NYSE:GSK) from an equal weight rating to an underweight rating in a research note issued to investors on Friday, Marketbeat.com reports.
Several other equities research analysts have also issued reports on GSK. J P Morgan Chase & Co reissued a neutral rating on shares of GlaxoSmithKline PLC in a research note on Monday, July 24th. Citigroup Inc. lowered shares of GlaxoSmithKline PLC from a buy rating to a neutral rating in a research note on Wednesday, July 5th. BidaskClub lowered shares of GlaxoSmithKline PLC from a sell rating to a strong sell rating in a research note on Monday, July 24th. Berenberg Bank raised shares of GlaxoSmithKline PLC from a hold rating to a buy rating in a research note on Friday, May 26th. Finally, TheStreet lowered shares of GlaxoSmithKline PLC from a b rating to a c+ rating in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. GlaxoSmithKline PLC has an average rating of Hold and an average price target of $46.00.
GlaxoSmithKline PLC (NYSE GSK) opened at 40.27 on Friday. The company’s 50-day moving average price is $39.93 and its 200 day moving average price is $41.82. The stock has a market capitalization of $98.42 billion, a P/E ratio of 39.79 and a beta of 1.03. GlaxoSmithKline PLC has a 52-week low of $37.20 and a 52-week high of $44.53.
GlaxoSmithKline PLC (NYSE:GSK) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. The business had revenue of $9.36 billion for the quarter, compared to analyst estimates of $9.52 billion. On average, equities research analysts predict that GlaxoSmithKline PLC will post $2.87 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, August 11th will be paid a $0.491 dividend. The ex-dividend date is Wednesday, August 9th. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 4.88%. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is currently 197.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bingham Osborn & Scarborough LLC purchased a new position in GlaxoSmithKline PLC in the 2nd quarter worth approximately $311,000. 10 15 Associates Inc. lifted its stake in GlaxoSmithKline PLC by 6.4% in the 1st quarter. 10 15 Associates Inc. now owns 237,716 shares of the pharmaceutical company’s stock worth $10,022,000 after purchasing an additional 14,247 shares in the last quarter. Lincluden Management Ltd. lifted its stake in GlaxoSmithKline PLC by 1.7% in the 1st quarter. Lincluden Management Ltd. now owns 120,845 shares of the pharmaceutical company’s stock worth $5,095,000 after purchasing an additional 1,990 shares in the last quarter. Anchor Capital Advisors LLC lifted its stake in GlaxoSmithKline PLC by 9.6% in the 1st quarter. Anchor Capital Advisors LLC now owns 613,324 shares of the pharmaceutical company’s stock worth $25,858,000 after purchasing an additional 53,894 shares in the last quarter. Finally, BlueCrest Capital Management Ltd lifted its stake in GlaxoSmithKline PLC by 293.5% in the 1st quarter. BlueCrest Capital Management Ltd now owns 51,157 shares of the pharmaceutical company’s stock worth $2,157,000 after purchasing an additional 38,157 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.
GlaxoSmithKline PLC Company Profile
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.
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