J P Morgan Chase & Co Reiterates Neutral Rating for GlaxoSmithKline PLC (GSK)
GlaxoSmithKline PLC (NYSE:GSK)‘s stock had its “neutral” rating restated by J P Morgan Chase & Co in a research report issued to clients and investors on Thursday.
Several other equities research analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of GlaxoSmithKline PLC from an “equal weight” rating to an “underweight” rating in a research note on Friday, September 8th. Argus reiterated a “buy” rating and issued a $50.00 target price on shares of GlaxoSmithKline PLC in a research note on Thursday, August 31st. BidaskClub upgraded shares of GlaxoSmithKline PLC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. TheStreet downgraded shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. GlaxoSmithKline PLC has an average rating of “Hold” and a consensus price target of $44.67.
GlaxoSmithKline PLC (NYSE GSK) opened at 40.18 on Thursday. The company has a market capitalization of $98.20 billion, a price-to-earnings ratio of 39.70 and a beta of 1.03. The stock has a 50 day moving average price of $39.76 and a 200-day moving average price of $41.75. GlaxoSmithKline PLC has a 1-year low of $37.20 and a 1-year high of $44.54.
GlaxoSmithKline PLC (NYSE:GSK) last issued its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. The business had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $9.52 billion. Equities analysts predict that GlaxoSmithKline PLC will post $2.87 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in GSK. Crow Point Partners increased its holdings in shares of GlaxoSmithKline PLC by 25.6% during the third quarter. Crow Point Partners now owns 1,080 shares of the pharmaceutical company’s stock worth $42,000 after purchasing an additional 220 shares during the period. MUFG Americas increased its holdings in shares of GlaxoSmithKline PLC by 11.3% during the third quarter. MUFG Americas now owns 73,060 shares of the pharmaceutical company’s stock worth $2,809,000 after purchasing an additional 7,399 shares during the period. Beacon Financial Group increased its holdings in shares of GlaxoSmithKline PLC by 4.1% during the fourth quarter. Beacon Financial Group now owns 146,882 shares of the pharmaceutical company’s stock worth $6,028,000 after purchasing an additional 5,799 shares during the period. Park National bought a new position in shares of GlaxoSmithKline PLC during the fourth quarter worth approximately $258,000. Finally, Assetmark increased its holdings in shares of GlaxoSmithKline PLC by 200,418.4% during the third quarter. Assetmark now owns 174,451 shares of the pharmaceutical company’s stock worth $6,708,000 after purchasing an additional 174,364 shares during the period. 9.28% of the stock is currently owned by institutional investors.
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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