GSK (NYSE:GSK) Shares Gap Down – Here’s Why

GSK plc (NYSE:GSK) gapped down prior to trading on Wednesday . The stock had previously closed at $40.39, but opened at $39.55. GSK shares last traded at $39.67, with a volume of 456,924 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley started coverage on shares of GSK in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. StockNews.com raised shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Performance

The company has a market capitalization of $81.68 billion, a PE ratio of 24.84, a PEG ratio of 1.12 and a beta of 0.58. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. The company has a 50 day moving average of $36.30 and a two-hundred day moving average of $36.96.

GSK (NYSE:GSK) last announced its quarterly earnings data on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.15. GSK had a net margin of 8.13% and a return on equity of 48.59%. As a group, equities research analysts predict that GSK plc will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, February 21st will be issued a $0.3932 dividend. This represents a $1.57 annualized dividend and a yield of 3.98%. This is an increase from GSK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, February 21st. GSK’s payout ratio is 98.74%.

Hedge Funds Weigh In On GSK

Large investors have recently modified their holdings of the stock. Indiana Trust & Investment Management Co increased its stake in GSK by 200.0% during the 4th quarter. Indiana Trust & Investment Management Co now owns 750 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Crews Bank & Trust purchased a new position in GSK in the 4th quarter worth approximately $26,000. ST Germain D J Co. Inc. lifted its position in GSK by 195.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 789 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 522 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in GSK by 73.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of GSK in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 15.74% 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.