GSK (NYSE:GSK) Cut to Hold at Deutsche Bank Aktiengesellschaft

GSK (NYSE:GSK) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and cut their price target for the stock from $53.00 to $39.50 in a report on Tuesday. Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Stock Performance

NYSE:GSK opened at $34.38 on Friday. The business’s fifty day moving average is $39.46 and its 200 day moving average is $40.80. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The firm has a market cap of $71.24 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.35 and a beta of 0.66. GSK has a 52-week low of $34.29 and a 52-week high of $45.92.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On GSK

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in shares of GSK by 8.3% in the third quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock worth $1,185,885,000 after acquiring an additional 2,224,345 shares during the period. Fisher Asset Management LLC grew its stake in shares of GSK by 4.9% during the 3rd quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock valued at $759,425,000 after purchasing an additional 870,449 shares during the period. Primecap Management Co. CA increased its position in shares of GSK by 2.4% during the 3rd quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock valued at $607,222,000 after purchasing an additional 342,365 shares during the last quarter. Provident Trust Co. lifted its stake in shares of GSK by 1.7% in the 3rd quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock worth $161,623,000 after purchasing an additional 66,765 shares during the period. Finally, Equity Investment Corp raised its position in GSK by 1.8% in the third quarter. Equity Investment Corp now owns 3,496,254 shares of the pharmaceutical company’s stock worth $142,927,000 after acquiring an additional 63,052 shares during the period. 15.74% of the stock is owned by institutional investors.

GSK Company Profile

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.