Armistice Capital LLC Has $14.64 Million Stake in GSK PLC Sponsored ADR $GSK

Key Points

• Armistice Capital LLC significantly reduced its stake in GSK PLC, selling 2 million shares, resulting in an 84.1% decrease in holdings to 378,000 shares worth approximately $14.64 million.
• Despite Armistice's reduction, other hedge funds, including Dodge & Cox and Primecap Management, increased their investments in GSK during the same quarter, indicating continued institutional interest.
• GSK recently reported better-than-expected earnings, with $1.23 per share, surpassing estimates, and set a quarterly dividend of $0.4206, reflecting a dividend yield of 4.2%.

Armistice Capital LLC trimmed its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 84.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 378,000 shares of the pharmaceutical company's stock after selling 2,000,000 shares during the quarter. Armistice Capital LLC's holdings in GSK were worth $14,644,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Dodge & Cox increased its position in GSK by 14.9% during the first quarter. Dodge & Cox now owns 78,651,833 shares of the pharmaceutical company's stock worth $3,046,972,000 after buying an additional 10,210,921 shares during the last quarter. Primecap Management Co. CA increased its position in GSK by 1.8% during the first quarter. Primecap Management Co. CA now owns 25,708,020 shares of the pharmaceutical company's stock worth $995,929,000 after buying an additional 446,360 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in GSK by 2.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,722,314 shares of the pharmaceutical company's stock worth $299,163,000 after buying an additional 155,392 shares during the last quarter. Equity Investment Corp increased its position in GSK by 5.3% during the first quarter. Equity Investment Corp now owns 4,174,189 shares of the pharmaceutical company's stock worth $161,708,000 after buying an additional 211,608 shares during the last quarter. Finally, Northern Trust Corp increased its position in GSK by 5.1% during the first quarter. Northern Trust Corp now owns 2,165,884 shares of the pharmaceutical company's stock worth $83,906,000 after buying an additional 105,629 shares during the last quarter. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Trading Up 0.6%

Shares of NYSE:GSK opened at $39.68 on Friday. The company has a market cap of $80.82 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.72 and a beta of 0.51. The stock's 50-day moving average is $38.40 and its 200-day moving average is $38.24. GSK PLC Sponsored ADR has a 52-week low of $31.72 and a 52-week high of $44.26. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.87.

GSK (NYSE:GSK - Get Free Report) last released its earnings results on Wednesday, July 30th. The pharmaceutical company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.11. GSK had a net margin of 10.81% and a return on equity of 49.22%. The business had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $7.92 billion. During the same quarter last year, the company earned $0.43 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. GSK has set its FY 2025 guidance at 4.590-4.590 EPS. Equities research analysts predict that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current year.

GSK Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Friday, August 15th will be paid a $0.4206 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, August 15th. GSK's dividend payout ratio (DPR) is presently 77.78%.

Wall Street Analysts Forecast Growth

GSK has been the topic of several analyst reports. Berenberg Bank reissued a "hold" rating on shares of GSK in a research report on Tuesday, June 3rd. Wall Street Zen raised GSK from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $37.38.

About GSK

GSK plc, together with its subsidiaries, engages in the research, development, and manufacture of vaccines, and specialty and general medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through two segments, Commercial Operations and Total R&D.

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