GSK (LON:GSK) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• GSK shares crossed above the 200-day moving average of GBX 1,443.62 during trading, reaching a high of GBX 1,639.
• Analysts hold a consensus rating of "Hold" for GSK, with varying price targets: Berenberg Bank at GBX 1,600 and Shore Capital at GBX 2,100.
• Insider Wendy Becker recently purchased 526 shares at an average price of GBX 1,503, indicating confidence in the company's future.

Shares of GSK plc (LON:GSK - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,443.62 ($19.41) and traded as high as GBX 1,639 ($22.03). GSK shares last traded at GBX 1,627.35 ($21.88), with a volume of 6,296,160 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GSK shares. JPMorgan Chase & Co. reiterated an "under review" rating on shares of GSK in a research note on Friday, October 3rd. Berenberg Bank reissued a "hold" rating and set a GBX 1,600 price objective on shares of GSK in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 1,450 target price on shares of GSK in a report on Thursday, July 31st. Finally, Shore Capital reiterated a "buy" rating and set a GBX 2,100 price target on shares of GSK in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of GBX 1,637.50.

GSK Price Performance

The stock has a market capitalization of £65.49 billion, a price-to-earnings ratio of 1,967.78, a P/E/G ratio of 1.24 and a beta of 0.31. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 114.64. The stock has a fifty day moving average of GBX 1,507.77 and a 200-day moving average of GBX 1,443.62.

GSK (LON:GSK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported GBX 75.30 earnings per share for the quarter. GSK had a net margin of 8.02% and a return on equity of 18.08%. On average, equities research analysts predict that GSK plc will post 175.980975 EPS for the current fiscal year.

Insider Activity

In other news, insider Wendy Becker bought 526 shares of the business's stock in a transaction dated Friday, September 19th. The shares were acquired at an average price of GBX 1,503 per share, for a total transaction of £7,905.78. Insiders bought a total of 576 shares of company stock worth $865,799 over the last 90 days. Company insiders own 0.20% of the company's stock.

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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