GSK (NYSE:GSK) Downgraded by Wall Street Zen to Buy

Key Points

• GSK was downgraded by Wall Street Zen from a "strong-buy" to a "buy," while the analyst consensus on the stock is an average rating of "Reduce" with a $44.13 consensus price target (2 Buys, 6 Holds, 3 Sells).
• Shares opened at about $54.55, with a market capitalization of $111.18 billion, a P/E of 14.74, and a 52-week range of $32.38 to $61.69.
• Major shareholder Plc Gsk bought 1,470,000 shares in December at $19 each, raising its holding to 18,245,691 shares and bringing insider ownership to roughly 10%.

GSK (NYSE:GSK - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

GSK has been the subject of several other research reports. Morgan Stanley reiterated an "underweight" rating on shares of GSK in a research note on Wednesday, January 14th. Citigroup reaffirmed a "neutral" rating on shares of GSK in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of GSK in a research report on Friday, January 16th. TD Cowen reissued a "hold" rating on shares of GSK in a report on Monday, February 9th. Finally, Barclays restated an "underweight" rating on shares of GSK in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $44.13.

GSK Stock Performance

NYSE GSK opened at $54.55 on Friday. The company's fifty day moving average is $53.91 and its two-hundred day moving average is $47.76. GSK has a 52-week low of $32.38 and a 52-week high of $61.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.54. The firm has a market capitalization of $111.18 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 3.34 and a beta of 0.44.

Insider Buying and Selling

In related news, major shareholder Plc Gsk acquired 1,470,000 shares of the firm's stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $19.00 per share, with a total value of $27,930,000.00. Following the completion of the acquisition, the insider owned 18,245,691 shares of the company's stock, valued at $346,668,129. This trade represents a 8.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GSK

A number of hedge funds have recently modified their holdings of the stock. Union Savings Bank bought a new stake in GSK in the fourth quarter valued at $140,000. DGS Capital Management LLC lifted its holdings in shares of GSK by 9.9% during the fourth quarter. DGS Capital Management LLC now owns 39,934 shares of the pharmaceutical company's stock valued at $1,958,000 after acquiring an additional 3,592 shares during the period. SkyView Investment Advisors LLC bought a new position in shares of GSK during the fourth quarter valued at $302,000. IHT Wealth Management LLC boosted its stake in shares of GSK by 1.3% in the 4th quarter. IHT Wealth Management LLC now owns 15,010 shares of the pharmaceutical company's stock valued at $736,000 after purchasing an additional 188 shares in the last quarter. Finally, Align Financial LLC bought a new stake in shares of GSK in the 4th quarter worth about $5,628,000. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Company Profile

GSK (GlaxoSmithKline plc) is a London-headquartered, multinational pharmaceutical and healthcare company formed through the 2000 merger of Glaxo Wellcome and SmithKline Beecham. The company is dual-listed and operates globally, developing, manufacturing and commercializing prescription medicines, vaccines and specialty treatments. Over its history GSK has evolved through portfolio reshaping and strategic transactions to focus on science-led pharmaceuticals and vaccines.

GSK's core activities include research and development of therapies and vaccines across a range of therapeutic areas, commercial manufacturing, and global marketing.

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