GSK (NYSE:GSK) Shares Gap Down – What’s Next?

01 Nov 2024, 07:46 by Amy Steele · The Cerbat Gem

GSK plc (NYSE:GSK – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $38.17, but opened at $36.50. GSK shares last traded at $36.52, with a volume of 1,950,167 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Check Out Our Latest Research Report on GSK

GSK Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54. The business has a 50-day simple moving average of $40.78 and a two-hundred day simple moving average of $41.05. The stock has a market cap of $76.15 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.23 and a beta of 0.65.

GSK (NYSE:GSK – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. GSK had a net margin of 7.97% and a return on equity of 51.23%. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Equities analysts forecast that GSK plc will post 4.08 EPS for the current fiscal year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be paid a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.28%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is 100.00%.

Insider Buying and Selling at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing 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 institutional investors and hedge funds have recently modified their holdings of the business. Verity Asset Management Inc. boosted its holdings in GSK by 43.4% in the 3rd quarter. Verity Asset Management Inc. now owns 13,607 shares of the pharmaceutical company’s stock valued at $556,000 after purchasing an additional 4,120 shares during the period. Sittner & Nelson LLC boosted its stake in shares of GSK by 40.8% in the third quarter. Sittner & Nelson LLC now owns 10,353 shares of the pharmaceutical company’s stock valued at $423,000 after buying an additional 3,000 shares during the period. Kornitzer Capital Management Inc. KS grew its position in GSK by 1.5% during the third quarter. Kornitzer Capital Management Inc. KS now owns 360,167 shares of the pharmaceutical company’s stock worth $14,724,000 after buying an additional 5,479 shares in the last quarter. Advisors Management Group Inc. ADV grew its position in GSK by 4.6% during the third quarter. Advisors Management Group Inc. ADV now owns 86,271 shares of the pharmaceutical company’s stock worth $3,527,000 after buying an additional 3,824 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in GSK by 59.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 18,969 shares of the pharmaceutical company’s stock worth $775,000 after acquiring an additional 7,080 shares during the period. 15.74% of the stock is currently owned by institutional investors and hedge funds.

About GSK

(Get Free Report)

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.