GlaxoSmithKline PLC (GSK) Stock Rating Lowered by Zacks Investment Research
GlaxoSmithKline PLC (NYSE:GSK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Glaxo’s top line is under pressure due to generic competition being faced by many of its products. Drugs like Lovaza and Avodart are facing declining sales due to intense generic competition. Moreover, Epzicom sales are expected to be affected by newly launched generics by Teva in the U.S. Advair’s sales are already being adversely impacted by pricing and competitive pressure in the U.S. and generic competition in Europe. However, the performance of new drugs like Tivicay and Nucala has been strong which should help support future revenues and ease the impact of the lost sales of Advair due to generic competition.”
Other research analysts also recently issued reports about the company. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Thursday, July 28th. Citigroup Inc. restated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Wednesday, July 27th. Jefferies Group upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Bank of America Corp. restated a “buy” rating and set a $48.00 price objective on shares of GlaxoSmithKline PLC in a report on Wednesday, June 22nd. Finally, Beaufort Securities restated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Tuesday, June 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. GlaxoSmithKline PLC currently has an average rating of “Hold” and a consensus target price of $47.86.
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GlaxoSmithKline PLC (NYSE:GSK) traded up 0.14% during mid-day trading on Wednesday, reaching $42.96. The company’s stock had a trading volume of 2,177,718 shares. The stock’s 50 day moving average price is $43.41 and its 200 day moving average price is $42.86. GlaxoSmithKline PLC has a 1-year low of $37.82 and a 1-year high of $45.58. The stock has a market capitalization of $104.41 billion, a P/E ratio of 2685.00 and a beta of 0.89.
The company also recently disclosed a dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, August 12th will be given a $0.494 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. GlaxoSmithKline PLC’s payout ratio is currently 6,600.00%.
Large investors have recently modified their holdings of the stock. Cypress Wealth Advisors LLC raised its stake in GlaxoSmithKline PLC by 0.6% in the second quarter. Cypress Wealth Advisors LLC now owns 7,977 shares of the pharmaceutical company’s stock valued at $346,000 after buying an additional 50 shares during the period. Roffman Miller Associates Inc. PA raised its stake in GlaxoSmithKline PLC by 0.8% in the second quarter. Roffman Miller Associates Inc. PA now owns 9,013 shares of the pharmaceutical company’s stock valued at $391,000 after buying an additional 75 shares during the period. Thrivent Financial for Lutherans raised its stake in GlaxoSmithKline PLC by 3.8% in the second quarter. Thrivent Financial for Lutherans now owns 2,651 shares of the pharmaceutical company’s stock valued at $115,000 after buying an additional 96 shares during the period. Juncture Wealth Strategies LLC raised its stake in GlaxoSmithKline PLC by 1.4% in the second quarter. Juncture Wealth Strategies LLC now owns 7,100 shares of the pharmaceutical company’s stock valued at $308,000 after buying an additional 100 shares during the period. Finally, Rothschild Investment Corp IL raised its stake in GlaxoSmithKline PLC by 0.3% in the second quarter. Rothschild Investment Corp IL now owns 35,463 shares of the pharmaceutical company’s stock valued at $1,537,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 8.79% of the company’s stock.
About GlaxoSmithKline PLC
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.
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