Cowen Reiterates “Hold” Rating for GlaxoSmithKline (NYSE:GSK)

Cowen reissued their hold rating on shares of GlaxoSmithKline (NYSE:GSK) in a research note issued to investors on Monday, AnalystRatings.com reports. The firm currently has a $45.00 price objective on the pharmaceutical company’s stock.

Several other brokerages have also recently commented on GSK. UBS Group cut GlaxoSmithKline from a buy rating to a neutral rating in a report on Friday, February 22nd. Zacks Investment Research upgraded GlaxoSmithKline from a hold rating to a buy rating and set a $44.00 target price on the stock in a report on Tuesday, April 23rd. Finally, Shore Capital cut GlaxoSmithKline from a buy rating to a hold rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. GlaxoSmithKline presently has an average rating of Hold and a consensus price target of $42.28.

Shares of GSK stock opened at $40.30 on Monday. GlaxoSmithKline has a one year low of $36.41 and a one year high of $42.36. The company has a market capitalization of $99.91 billion, a P/E ratio of 12.75, a P/E/G ratio of 2.07 and a beta of 0.74. The company has a current ratio of 0.72, a quick ratio of 0.48 and a debt-to-equity ratio of 6.92.

GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, May 1st. The pharmaceutical company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.13. GlaxoSmithKline had a return on equity of 157.04% and a net margin of 12.27%. The business had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.86 billion. As a group, sell-side analysts anticipate that GlaxoSmithKline will post 2.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, May 17th will be paid a $0.4953 dividend. This represents a $1.98 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Thursday, May 16th. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 61.71%.

In other GlaxoSmithKline news, Director Plc Glaxosmithkline purchased 325,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $18.00 per share, with a total value of $5,850,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. D Orazio & Associates Inc. raised its position in shares of GlaxoSmithKline by 200.0% during the first quarter. D Orazio & Associates Inc. now owns 600 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 400 shares during the period. Claybrook Capital LLC acquired a new position in shares of GlaxoSmithKline during the fourth quarter worth approximately $26,000. Lucia Wealth Services LLC raised its position in shares of GlaxoSmithKline by 357.5% during the first quarter. Lucia Wealth Services LLC now owns 613 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 479 shares during the period. Berman Capital Advisors LLC acquired a new position in shares of GlaxoSmithKline during the fourth quarter worth approximately $32,000. Finally, Reilly Financial Advisors LLC raised its position in shares of GlaxoSmithKline by 36.7% during the first quarter. Reilly Financial Advisors LLC now owns 950 shares of the pharmaceutical company’s stock worth $36,000 after purchasing an additional 255 shares during the period. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

GlaxoSmithKline Company Profile

GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.

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Analyst Recommendations for GlaxoSmithKline (NYSE:GSK)

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