GSK (NYSE:GSK - Get Free Report) was downgraded by stock analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $39.50 price target on the pharmaceutical company's stock, down from their prior price target of $53.00. Jefferies Financial Group's price objective indicates a potential upside of 11.08% from the stock's current price.
Several other analysts also recently issued reports on GSK. Guggenheim downgraded GSK from a "buy" rating to a "neutral" rating in a report on Thursday, October 31st. Argus raised shares of GSK to a "strong-buy" rating in a research note on Wednesday, August 7th. Finally, Barclays raised GSK to a "hold" rating in a research note on Tuesday, August 27th. Six analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $43.25.
Get Our Latest Analysis on GSK
GSK Trading Down 2.2 %
Shares of GSK traded down $0.79 during mid-day trading on Tuesday, reaching $35.56. The company had a trading volume of 4,849,173 shares, compared to its average volume of 4,004,434. The stock has a market cap of $73.70 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $39.80 and a 200-day simple moving average of $40.88. GSK has a fifty-two week low of $34.29 and a fifty-two week high of $45.92.
Insider Activity
In other news, major shareholder Plc Gsk bought 2,791,930 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares of the company's stock, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.00% of the company's stock.
Institutional Investors Weigh In On GSK
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of GSK by 448.7% during the 1st quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company's stock worth $758,000 after purchasing an additional 14,466 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of GSK during the 1st quarter valued at approximately $277,000. US Bancorp DE raised its holdings in GSK by 54.6% during the first quarter. US Bancorp DE now owns 181,647 shares of the pharmaceutical company's stock worth $7,787,000 after purchasing an additional 64,144 shares during the last quarter. Dearborn Partners LLC boosted its position in GSK by 21.5% during the first quarter. Dearborn Partners LLC now owns 12,992 shares of the pharmaceutical company's stock worth $557,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Ledyard National Bank increased its position in shares of GSK by 97.5% in the first quarter. Ledyard National Bank now owns 13,366 shares of the pharmaceutical company's stock valued at $573,000 after buying an additional 6,597 shares in the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.
About GSK
(
Get Free Report)
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.
Further Reading
Before you consider GSK, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GSK wasn't on the list.
While GSK currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.