Dorsey Wright & Associates Buys New Position in GSK PLC Sponsored ADR $GSK

Dorsey Wright & Associates acquired a new stake in GSK PLC Sponsored ADR (NYSE:GSK) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 45,693 shares of the pharmaceutical company’s stock, valued at approximately $2,522,000.

Several other institutional investors and hedge funds have also bought and sold shares of GSK. First Horizon Corp raised its stake in shares of GSK by 78.7% during the 4th quarter. First Horizon Corp now owns 536 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 236 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of GSK during the 4th quarter worth about $30,000. Triumph Capital Management acquired a new stake in GSK during the third quarter worth approximately $40,000. Coston McIsaac & Partners boosted its stake in GSK by 17.3% in the 4th quarter. Coston McIsaac & Partners now owns 1,395 shares of the pharmaceutical company’s stock valued at $68,000 after purchasing an additional 206 shares during the period. Finally, Bogart Wealth LLC boosted its position in shares of GSK by 15.3% in the first quarter. Bogart Wealth LLC now owns 1,508 shares of the pharmaceutical company’s stock valued at $83,000 after acquiring an additional 200 shares during the period. Institutional investors own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of GSK in a research report on Thursday, July 9th. HSBC upgraded shares of GSK from a “reduce” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen raised GSK from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Weiss Ratings downgraded shares of GSK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of GSK in a research report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, GSK currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Trending Headlines about GSK

Here are the key news stories impacting GSK this week:

• Positive Sentiment: Jefferies resumed coverage on GSK with a Buy rating and a price target implying roughly 30% upside, arguing recent business-development deals strengthen the company’s long-term revenue outlook. Article Title
• Neutral Sentiment: GSK said camlipixant will still continue in a separate Phase 2b study for irritable bowel syndrome, leaving some optionality for the drug despite the cough-program setback. Article Title
• Negative Sentiment: GSK halted further development of camlipixant for refractory chronic cough after the Phase 3 program missed a main efficacy goal, a setback that may reduce confidence in the company’s respiratory pipeline. Article Title

GSK Stock Down 1.8%

Shares of NYSE:GSK opened at $51.81 on Friday. The business’s 50 day simple moving average is $51.55 and its two-hundred day simple moving average is $53.34. GSK PLC Sponsored ADR has a 52-week low of $36.16 and a 52-week high of $61.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.52 and a current ratio of 0.79. The firm has a market cap of $104.79 billion, a P/E ratio of 13.46, a PEG ratio of 3.37 and a beta of 0.35.

GSK Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Friday, May 15th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This represents a $1.76 annualized dividend and a yield of 3.4%. GSK’s payout ratio is 46.49%.

GSK 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.