GSK (NYSE:GSK) Stock Rating Lowered by StockNews.com

GSK (NYSE:GSK - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Friday.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of GSK from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Guggenheim lowered GSK from a "buy" rating to a "neutral" rating in a research note on Thursday, October 31st. Jefferies Financial Group lowered shares of GSK from a "buy" rating to a "hold" rating and lowered their target price for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Finally, Barclays raised shares of GSK to a "hold" rating in a report on Tuesday, August 27th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.25.

GSK Price Performance

Shares of GSK stock traded up $0.17 during mid-day trading on Friday, reaching $33.60. The company's stock had a trading volume of 6,812,826 shares, compared to its average volume of 4,166,597. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The firm's 50-day moving average is $35.65 and its two-hundred day moving average is $38.94. GSK has a 1-year low of $32.83 and a 1-year high of $45.92. The company has a market cap of $69.64 billion, a P/E ratio of 21.82, a PEG ratio of 1.54 and a beta of 0.64.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm's stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares of the company's stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On GSK

Several hedge funds have recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in GSK during the 3rd quarter worth $26,000. Sunbelt Securities Inc. boosted its position in shares of GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company's stock worth $29,000 after purchasing an additional 302 shares during the last quarter. Concord Wealth Partners grew its stake in shares of GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock worth $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in GSK in the second quarter valued at about $37,000. Finally, Fortitude Family Office LLC acquired a new position in GSK in the third quarter valued at about $42,000. Institutional investors own 15.74% of the company's stock.

GSK Company Profile

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.