J P Morgan Chase & Co Reiterates “Neutral” Rating for GlaxoSmithKline PLC (GSK)
GlaxoSmithKline PLC (NYSE:GSK)‘s stock had its “neutral” rating reiterated by analysts at J P Morgan Chase & Co in a note issued to investors on Thursday.
Other research analysts have also recently issued reports about the company. Citigroup Inc. cut GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 5th. ValuEngine cut GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. TheStreet cut GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research cut GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.00.
Shares of GlaxoSmithKline PLC (NYSE GSK) opened at 40.10 on Thursday. The stock has a market capitalization of $98.00 billion, a P/E ratio of 39.62 and a beta of 1.03. The company has a 50-day moving average price of $39.89 and a 200 day moving average price of $41.80. GlaxoSmithKline PLC has a 52 week low of $37.20 and a 52 week high of $44.54.
GlaxoSmithKline PLC (NYSE:GSK) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. The firm had revenue of $9.36 billion during the quarter, compared to analysts’ expectations of $9.52 billion. Analysts forecast that GlaxoSmithKline PLC will post $2.87 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of GSK. Russell Investments Group Ltd. bought a new stake in shares of GlaxoSmithKline PLC in the first quarter valued at about $578,000. AMG National Trust Bank raised its holdings in GlaxoSmithKline PLC by 12.5% during the first quarter. AMG National Trust Bank now owns 76,629 shares of the pharmaceutical company’s stock worth $3,231,000 after acquiring an additional 8,533 shares in the last quarter. Capital Fund Management S.A. bought a new stake in GlaxoSmithKline PLC during the first quarter worth about $588,000. TIAA CREF Trust Co. FSB MO raised its holdings in GlaxoSmithKline PLC by 5.1% during the first quarter. TIAA CREF Trust Co. FSB MO now owns 35,222 shares of the pharmaceutical company’s stock worth $1,485,000 after acquiring an additional 1,706 shares in the last quarter. Finally, HPM Partners LLC bought a new stake in GlaxoSmithKline PLC during the first quarter worth about $516,000. Institutional investors own 9.29% of the company’s stock.
About GlaxoSmithKline PLC
GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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