GSK (NYSE:GSK) Downgraded to Hold Rating by Jefferies Financial Group

GSK (NYSE:GSK) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Tuesday,Finviz reports. They presently have a $39.50 price objective on the pharmaceutical company’s stock, down from their previous price objective of $53.00. Jefferies Financial Group’s target price would indicate a potential upside of 8.64% from the company’s current price.

A number of other research firms also recently issued reports on GSK. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, GSK has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Up 0.2 %

GSK stock opened at $36.36 on Tuesday. The company’s 50-day moving average price is $39.80 and its two-hundred day moving average price is $40.88. GSK has a 52 week low of $34.29 and a 52 week high of $45.92. The stock has a market cap of $75.36 billion, a price-to-earnings ratio of 23.61, a PEG 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.

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 acquired at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Trading of GSK

A number of hedge funds and other institutional investors have recently bought and sold shares of GSK. Primecap Management Co. CA lifted its stake in GSK by 2.4% in the third quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock worth $607,222,000 after purchasing an additional 342,365 shares during the last quarter. Moran Wealth Management LLC increased its stake in GSK by 1.2% during the 3rd quarter. Moran Wealth Management LLC now owns 425,646 shares of the pharmaceutical company’s stock valued at $17,400,000 after purchasing an additional 4,864 shares in the last quarter. Advisors Asset Management Inc. lifted its position in GSK by 11.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 142,348 shares of the pharmaceutical company’s stock valued at $5,819,000 after acquiring an additional 14,565 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in GSK by 420.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 564,934 shares of the pharmaceutical company’s stock valued at $23,095,000 after acquiring an additional 456,319 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in GSK during the third quarter valued at approximately $216,000. 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.