GlaxoSmithKline plc (GSK) Stock Price Down 0% on Analyst Downgrade

GlaxoSmithKline plc (LON:GSK) shares were down 0% on Friday after Jefferies Group lowered their price target on the stock from GBX 1,540 to GBX 1,450. Jefferies Group currently has a buy rating on the stock. GlaxoSmithKline plc traded as low as GBX 1,317.84 ($17.33) and last traded at GBX 1,308 ($17.20). Approximately 6,442,515 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 10,170,000 shares. The stock had previously closed at GBX 1,308 ($17.20).

Other analysts have also issued reports about the company. Investec reaffirmed a “buy” rating and set a GBX 1,800 ($23.67) target price on shares of GlaxoSmithKline plc in a report on Wednesday, July 26th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,885 ($24.79) target price on shares of GlaxoSmithKline plc in a report on Wednesday, July 26th. The Goldman Sachs Group, Inc. set a GBX 1,900 ($24.99) target price on GlaxoSmithKline plc and gave the stock a “buy” rating in a report on Wednesday, July 26th. Bryan, Garnier & Co raised their target price on GlaxoSmithKline plc from GBX 1,750 ($23.02) to GBX 1,790 ($23.54) and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, Liberum Capital reaffirmed a “buy” rating and set a GBX 1,900 ($24.99) target price on shares of GlaxoSmithKline plc in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 1,569.75 ($20.65).

In related news, insider Simon Dingemans acquired 1,076 shares of GlaxoSmithKline plc stock in a transaction that occurred on Thursday, October 12th. The shares were purchased at an average price of GBX 1,527 ($20.08) per share, for a total transaction of £16,430.52 ($21,610.57). Also, insider Urs Rohner acquired 473 shares of GlaxoSmithKline plc stock in a transaction that occurred on Wednesday, October 25th. The shares were bought at an average price of GBX 1,518 ($19.97) per share, for a total transaction of £7,180.14 ($9,443.82). In the last quarter, insiders have purchased 1,576 shares of company stock worth $2,400,376.

GlaxoSmithKline plc (LON:GSK) last announced its quarterly earnings data on Wednesday, October 25th. The company reported GBX 32.50 ($0.43) EPS for the quarter, topping the Zacks’ consensus estimate of GBX 31.80 ($0.42) by GBX 0.70 ($0.01). GlaxoSmithKline plc had a return on equity of 461.88% and a net margin of 17.79%. The firm had revenue of GBX 784.30 billion for the quarter.

The firm also recently announced a dividend, which will be paid on Thursday, January 11th. Shareholders of record on Thursday, November 9th will be given a GBX 19 ($0.25) dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a yield of 1.41%.

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GlaxoSmithKline plc 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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