GlaxoSmithKline PLC (GSK) Lowered to Sell at Zacks Investment Research
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. restated a buy rating on shares of GlaxoSmithKline PLC in a research report on Thursday, July 28th. Citigroup Inc. reiterated 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. reiterated a buy rating and issued a $48.00 price target on shares of GlaxoSmithKline PLC in a report on Wednesday, June 22nd. Finally, Beaufort Securities reiterated a buy rating on shares of GlaxoSmithKline PLC in a report on Tuesday, June 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $47.86.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 0.90% during mid-day trading on Wednesday, hitting $42.94. The stock had a trading volume of 994,131 shares. The company’s 50 day moving average price is $43.49 and its 200 day moving average price is $42.84. GlaxoSmithKline PLC has a 12-month low of $37.82 and a 12-month high of $45.58. The stock has a market cap of $104.37 billion, a P/E ratio of 2683.75 and a beta of 0.89.
The firm also recently announced a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be issued a dividend of $0.494 per share. The ex-dividend date of this dividend is Wednesday, August 10th. GlaxoSmithKline PLC’s payout ratio is 6,600.00%.
Hedge funds have recently modified their holdings of the company. M&R Capital Management Inc. acquired a new stake in shares of GlaxoSmithKline PLC during the second quarter worth $109,000. Quadrant Capital Group LLC boosted its stake in shares of GlaxoSmithKline PLC by 6.4% in the second quarter. Quadrant Capital Group LLC now owns 2,725 shares of the pharmaceutical company’s stock worth $111,000 after buying an additional 163 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of GlaxoSmithKline PLC by 3.8% in the second quarter. Thrivent Financial for Lutherans now owns 2,651 shares of the pharmaceutical company’s stock worth $115,000 after buying an additional 96 shares during the last quarter. SevenBridge Financial Group LLC acquired a new stake in shares of GlaxoSmithKline PLC during the second quarter worth $116,000. Finally, Cribstone Capital Management LLC acquired a new stake in shares of GlaxoSmithKline PLC during the second quarter worth $117,000. Hedge funds and other institutional investors own 8.79% of the company’s stock.
GlaxoSmithKline PLC Company Profile
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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