GlaxoSmithKline plc (NYSE:GSK) Downgraded by Investec

GlaxoSmithKline plc (NYSE:GSK) was downgraded by equities research analysts at Investec from a “buy” rating to a “hold” rating in a report released on Monday, November 6th, MarketBeat.com reports.

Several other equities analysts also recently issued reports on GSK. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline in a research note on Thursday, September 21st. BidaskClub downgraded shares of GlaxoSmithKline from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. TheStreet downgraded shares of GlaxoSmithKline from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Citigroup Inc. reissued a “neutral” rating on shares of GlaxoSmithKline in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $44.33.

GlaxoSmithKline (NYSE GSK) opened at $35.04 on Monday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64. The stock has a market cap of $86,175.31, a P/E ratio of 12.43, a P/E/G ratio of 1.94 and a beta of 1.00. GlaxoSmithKline has a one year low of $34.72 and a one year high of $44.53.

In related news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $14.00 per share, with a total value of $5,999,994.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 10.00% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of GSK. Proficio Capital Partners LLC lifted its position in GlaxoSmithKline by 233.0% in the 1st quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock valued at $122,000 after purchasing an additional 1,990 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in GlaxoSmithKline by 1.9% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock valued at $137,000 after purchasing an additional 64 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in GlaxoSmithKline by 1,982.8% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 3,520 shares of the pharmaceutical company’s stock valued at $143,000 after purchasing an additional 3,351 shares during the last quarter. FTB Advisors Inc. lifted its position in GlaxoSmithKline by 16.9% in the 2nd quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock valued at $146,000 after purchasing an additional 539 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in GlaxoSmithKline by 3.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock valued at $162,000 after purchasing an additional 148 shares during the last quarter. Institutional investors own 9.84% of the company’s stock.

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About GlaxoSmithKline

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.

Analyst Recommendations for GlaxoSmithKline (NYSE:GSK)

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