GSK (NYSE:GSK) Shares Gap Down – Time to Sell?

GSK PLC Sponsored ADR (NYSE:GSK) shares gapped down before the market opened on Wednesday. The stock had previously closed at $50.94, but opened at $47.65. GSK shares last traded at $48.7640, with a volume of 5,235,829 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on GSK shares. Wolfe Research began coverage on shares of GSK in a research note on Friday, October 9th. They set an “outperform” rating and a $70.00 target price for the company. JPMorgan Chase & Co. restated a “sell” rating on shares of GSK in a research report on Thursday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GSK in a report on Tuesday. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and lowered their price objective for the company from $67.40 to $55.90 in a research report on Thursday. Finally, Berenberg Bank reiterated a “buy” rating on shares of GSK in a research note on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, GSK has an average rating of “Hold” and a consensus price target of $56.30.

GSK Price Performance

The company has a market capitalization of $100.08 billion, a P/E ratio of 17.19, a PEG ratio of 2.12 and a beta of 0.33. The company has a quick ratio of 0.52, a current ratio of 0.82 and a debt-to-equity ratio of 0.81. The business has a 50 day simple moving average of $49.49 and a 200-day simple moving average of $52.35.

GSK (NYSE:GSK) last released its quarterly earnings data on Tuesday, July 28th. The pharmaceutical company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.09. GSK had a net margin of 13.00% and a return on equity of 42.41%. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict that GSK PLC Sponsored ADR will post 4.95 EPS for the current fiscal year.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Friday, November 13th will be paid a $0.4518 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from GSK’s previous quarterly dividend of $0.4515. This represents a $1.81 annualized dividend and a dividend yield of 3.7%. GSK’s dividend payout ratio (DPR) is currently 61.46%.

Institutional Investors Weigh In On GSK

Institutional investors have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC grew its position in GSK by 378.8% in the third quarter. Provenance Wealth Advisors LLC now owns 1,149 shares of the pharmaceutical company’s stock worth $55,000 after buying an additional 909 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in shares of GSK during the 3rd quarter valued at $221,000. GRIMES & Co WEALTH MANAGEMENT LLC boosted its stake in shares of GSK by 2.3% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 186,887 shares of the pharmaceutical company’s stock worth $9,002,000 after acquiring an additional 4,142 shares in the last quarter. Summit Wealth Group LLC Co. boosted its stake in shares of GSK by 17.5% during the 3rd quarter. Summit Wealth Group LLC Co. now owns 5,867 shares of the pharmaceutical company’s stock worth $283,000 after acquiring an additional 875 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC grew its holdings in shares of GSK by 1.8% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 122,067 shares of the pharmaceutical company’s stock worth $5,880,000 after acquiring an additional 2,201 shares during the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

About GSK

GSK plc, formerly GlaxoSmithKline, is a global biopharmaceutical company headquartered in Brentford, England. The company focuses on researching, developing and commercializing medicines and vaccines designed to prevent and treat infectious diseases, respiratory conditions, immune-related disorders and certain cancers.

Its vaccine portfolio includes products such as Shingrix for shingles, Arexvy for respiratory syncytial virus (RSV) in older adults, and vaccines targeting meningitis, influenza and other infectious diseases.