GlaxoSmithKline (GSK) Downgraded to Hold at Zacks Investment Research

GlaxoSmithKline (NYSE:GSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Glaxo enjoys a diversified base and presence in different geographical areas. Glaxo should continue to see strong performance in its Pharmaceuticals and Vaccines business units. We are positive on the company’s efforts to develop its pipeline. We think Glaxo possesses one of the stronger late-stage pipelines in large-cap pharma. Performance of new products has been encouraging. Meanwhile, back-to-back approvals of three new products – Trelegy Ellipta, Shingrix and Jucalla – have strengthened Glaxo’s competitive position. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. The slowdown in sales of the Consumer Healthcare segment in 2017 is also a concern. Estimates have declined slightly ahead of Q4 earnings release. However, Glaxo has a positive record of earnings surprises in recent quarters.”

Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of GlaxoSmithKline from a “c+” rating to a “b” rating in a research note on Wednesday, October 25th. Argus lowered their target price on shares of GlaxoSmithKline to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 30th. UBS Group upgraded shares of GlaxoSmithKline from a “neutral” rating to a “buy” rating and raised their target price for the company from $35.04 to $35.85 in a research note on Monday, November 27th. ValuEngine downgraded shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Cowen set a $38.00 target price on shares of GlaxoSmithKline and gave the company a “hold” rating in a research note on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. GlaxoSmithKline currently has an average rating of “Hold” and a consensus price target of $38.57.

Shares of GlaxoSmithKline (NYSE GSK) traded up $0.03 on Wednesday, reaching $38.20. 3,478,233 shares of the company’s stock traded hands, compared to its average volume of 5,510,000. The firm has a market capitalization of $93,270.00, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. GlaxoSmithKline has a 52 week low of $34.52 and a 52 week high of $44.53. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 2.96.

GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. GlaxoSmithKline had a net margin of 7.79% and a return on equity of 115.30%. research analysts anticipate that GlaxoSmithKline will post 2.92 earnings per share for the current fiscal year.

In related news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $5,999,994.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.00% of the company’s stock.

Several large investors have recently bought and sold shares of GSK. Principal Financial Group Inc. acquired a new stake in shares of GlaxoSmithKline during the second quarter worth $602,000. King Luther Capital Management Corp lifted its stake in shares of GlaxoSmithKline by 1.0% during the second quarter. King Luther Capital Management Corp now owns 5,432 shares of the pharmaceutical company’s stock worth $234,000 after buying an additional 55 shares during the period. Stevens Capital Management LP lifted its stake in shares of GlaxoSmithKline by 17.1% during the second quarter. Stevens Capital Management LP now owns 40,674 shares of the pharmaceutical company’s stock worth $1,754,000 after buying an additional 5,933 shares during the period. Lazard Asset Management LLC lifted its stake in shares of GlaxoSmithKline by 5.8% during the second quarter. Lazard Asset Management LLC now owns 42,698 shares of the pharmaceutical company’s stock worth $1,841,000 after buying an additional 2,324 shares during the period. Finally, Quantitative Investment Management LLC acquired a new stake in shares of GlaxoSmithKline during the second quarter worth $3,221,000. Institutional investors and hedge funds own 9.80% of the company’s stock.

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GlaxoSmithKline Company Profile

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

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