Societe Generale Reiterates “Sell” Rating for GlaxoSmithKline plc (GSK)
GlaxoSmithKline plc (LON:GSK)‘s stock had its “sell” rating reiterated by equities researchers at Societe Generale in a research report issued on Thursday. They currently have a GBX 1,320 ($16.35) price objective on the stock. Societe Generale’s target price points to a potential downside of 17.47% from the company’s current price.
A number of other research analysts have also recently issued reports on the stock. Shore Capital reissued a “hold” rating on shares of GlaxoSmithKline plc in a research report on Wednesday, July 27th. Citigroup Inc. reissued a “buy” rating on shares of GlaxoSmithKline plc in a research report on Monday. Deutsche Bank AG reissued a “hold” rating and set a GBX 1,700 ($21.06) price target on shares of GlaxoSmithKline plc in a research report on Thursday, July 28th. Jefferies Group raised shares of GlaxoSmithKline plc to a “buy” rating and lifted their price target for the company from GBX 1,650 ($20.44) to GBX 2,000 ($24.77) in a research report on Thursday, July 14th. Finally, BNP Paribas set a GBX 1,530 ($18.95) price target on shares of GlaxoSmithKline plc and gave the company a “neutral” rating in a research report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. GlaxoSmithKline plc has an average rating of “Hold” and an average target price of GBX 1,723.54 ($21.35).
GlaxoSmithKline plc (LON:GSK) opened at 1558.50 on Thursday. The firm has a 50-day moving average of GBX 1,644.81 and a 200-day moving average of GBX 1,583.02. GlaxoSmithKline plc has a 1-year low of GBX 1,277.25 and a 1-year high of GBX 1,745.56. The stock’s market capitalization is GBX 75.84 billion.
The firm also recently declared a dividend, which will be paid on Thursday, January 12th. Investors of record on Thursday, November 3rd will be paid a dividend of GBX 19 ($0.24) per share. This represents a yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 3rd.
In related news, insider Sir Andrew P. Witty sold 10,000 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of GBX 1,636 ($20.27), for a total transaction of £163,600 ($202,650.81). Also, insider Slaoui,Moncef purchased 28 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were acquired at an average cost of GBX 2,208 ($27.35) per share, for a total transaction of £618.24 ($765.81).
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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