Shore Capital Reaffirms “Buy” Rating for GSK (LON:GSK)

Shore Capital reiterated their buy rating on shares of GSK (LON:GSK) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports.

Several other brokerages also recently weighed in on GSK. Barclays reiterated an equal weight rating and issued a GBX 1,725 ($22.75) target price on shares of GSK in a research note on Tuesday, May 7th. Jefferies Financial Group reiterated a buy rating and issued a GBX 2,100 ($27.69) price objective on shares of GSK in a research report on Thursday, June 27th. Citigroup cut their price objective on shares of GSK from GBX 2,120 ($27.96) to GBX 1,900 ($25.06) and set a buy rating for the company in a research report on Friday, July 5th. JPMorgan Chase & Co. reiterated an underweight rating on shares of GSK in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of GSK from GBX 1,950 ($25.72) to GBX 1,850 ($24.40) and set a buy rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of GBX 1,805.71 ($23.81).

GSK Stock Performance

LON GSK opened at GBX 1,666.67 ($21.98) on Wednesday. The firm has a market cap of £68.00 billion, a P/E ratio of 1,461.50, a P/E/G ratio of 1.47 and a beta of 0.29. GSK has a 52-week low of GBX 1,359.60 ($17.93) and a 52-week high of GBX 1,823.50 ($24.05). The business’s 50-day moving average price is GBX 1,551.87 and its 200 day moving average price is GBX 1,635.92. The company has a quick ratio of 0.73, a current ratio of 0.82 and a debt-to-equity ratio of 123.04.

GSK Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, August 15th will be issued a GBX 15 ($0.20) dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a yield of 0.97%. GSK’s dividend payout ratio (DPR) is presently 5,309.73%.

Insider Activity

In other news, insider Wendy Becker acquired 446 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of GBX 1,614 ($21.28) per share, with a total value of £7,198.44 ($9,492.87). In the last three months, insiders purchased 462 shares of company stock worth $744,868. Company insiders own 1.61% of the company’s stock.

About GSK

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.