GSK (NYSE:GSK) Shares Gap Up – Here’s What Happened

GSK plc (NYSE:GSK)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $37.64, but opened at $39.09. GSK shares last traded at $38.62, with a volume of 1,092,399 shares traded.

Wall Street Analyst Weigh In

GSK has been the subject of several analyst reports. StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Morgan Stanley started coverage on GSK in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Seven analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GSK presently has an average rating of “Moderate Buy” and an average price target of $43.25.

GSK Stock Performance

The business has a fifty day moving average of $37.63 and a 200-day moving average of $36.59. The company has a market cap of $75.53 billion, a PE ratio of 22.95, a P/E/G ratio of 1.12 and a beta of 0.56. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12.

GSK (NYSE:GSK) last posted its earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.15. GSK had a return on equity of 48.59% and a net margin of 8.13%. Equities research analysts anticipate that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, February 21st will be given a $0.3932 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.31%. This is a boost from GSK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, February 21st. GSK’s dividend payout ratio (DPR) is currently 98.74%.

Hedge Funds Weigh In On GSK

Several hedge funds and other institutional investors have recently modified their holdings of GSK. Sunbelt Securities Inc. boosted its position 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 acquiring an additional 302 shares in the last quarter. Indiana Trust & Investment Management Co lifted its stake in shares of GSK by 200.0% in 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 during the period. Crews Bank & Trust bought a new stake in shares of GSK during the fourth quarter valued at approximately $26,000. ST Germain D J Co. Inc. grew its stake in GSK by 195.5% in the fourth quarter. ST Germain D J Co. Inc. now owns 789 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 522 shares during the period. Finally, Sierra Ocean LLC bought a new position in GSK in the fourth 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.