Zacks Investment Research upgraded shares of GlaxoSmithKline PLC (NYSE:GSK) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $46.00 price target on the pharmaceutical company’s stock.

According to Zacks, “Glaxo enjoys a diversified base and presence in different geographical areas. Glaxo should continue to see strong performance in its Pharmaceuticals and Vaccines business units. We are positive on the company’s efforts to develop its pipeline. We think Glaxo possesses one of the stronger late-stage pipelines in large-cap pharma. Performance of new products as well as of those acquired from Novartis has been encouraging. Glaxo’s shares have outperformed the broader industry in the past one month. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. The slowdown in sales of the Consumer Healthcare segment this year is also a concern. Estimates have remained stable of Glaxo’s Q3 earnings release. The company recorded a string of positive earnings surprises in recent quarters.”

GSK has been the subject of several other reports. Citigroup Inc. reiterated a neutral rating on shares of GlaxoSmithKline PLC in a research report on Thursday, July 27th. TheStreet cut shares of GlaxoSmithKline PLC from a b rating to a c+ rating in a research report on Wednesday, July 26th. Argus reiterated a buy rating and set a $50.00 price objective on shares of GlaxoSmithKline PLC in a research report on Thursday, August 31st. J P Morgan Chase & Co reiterated a neutral rating on shares of GlaxoSmithKline PLC in a research report on Thursday, September 14th. Finally, Morgan Stanley cut shares of GlaxoSmithKline PLC from an equal weight rating to an underweight rating in a research report on Friday, September 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $44.33.

Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 0.63% during trading on Wednesday, hitting $40.84. 8,971,913 shares of the stock traded hands. The firm has a 50-day moving average of $40.51 and a 200-day moving average of $41.53. GlaxoSmithKline PLC has a 1-year low of $37.20 and a 1-year high of $44.54. The firm has a market capitalization of $99.81 billion, a price-to-earnings ratio of 39.57 and a beta of 1.03.

GlaxoSmithKline PLC (NYSE:GSK) last posted its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. The company had revenue of $9.36 billion during the quarter, compared to analysts’ expectations of $9.52 billion. On average, equities analysts forecast that GlaxoSmithKline PLC will post $2.87 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, August 11th were issued a $0.491 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.81%. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, August 9th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 198.00%.

Large investors have recently bought and sold shares of the business. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in GlaxoSmithKline PLC by 1,747.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,494 shares of the pharmaceutical company’s stock worth $105,000 after purchasing an additional 2,359 shares during the period. Proficio Capital Partners LLC grew its holdings in GlaxoSmithKline PLC by 233.0% in the first quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock worth $122,000 after purchasing an additional 1,990 shares during the period. Westwood Holdings Group Inc. grew its holdings in GlaxoSmithKline PLC by 15.7% in the first quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock worth $124,000 after purchasing an additional 400 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in GlaxoSmithKline PLC by 1.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 64 shares during the period. Finally, FTB Advisors Inc. grew its holdings in GlaxoSmithKline PLC by 16.9% in the second quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock worth $146,000 after purchasing an additional 539 shares during the period. Institutional investors and hedge funds own 9.28% of the company’s stock.

About GlaxoSmithKline PLC

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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Analyst Recommendations for GlaxoSmithKline PLC (NYSE:GSK)

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