Zacks Investment Research upgraded shares of GlaxoSmithKline (NYSE:GSK) from a hold rating to a buy rating in a research note published on Tuesday. The firm currently has $42.00 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 has been encouraging. Meanwhile, back-to-back approvals of three new products – Trelegy Ellipta, Shingrix and Jucalla – have strengthened Glaxo’s competitive position. 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 declined slightly ahead of Q4 earnings release. However, Glaxo has a positive record of earnings surprises in recent quarters.”

Other research analysts have also issued reports about the company. TheStreet upgraded GlaxoSmithKline from a c+ rating to a b rating in a research report on Wednesday, October 25th. Argus lowered their price objective on GlaxoSmithKline to $40.00 and set a buy rating for the company in a research report on Thursday, November 30th. UBS Group upgraded GlaxoSmithKline from a neutral rating to a buy rating and raised their price target for the stock from $35.04 to $35.85 in a research report on Monday, November 27th. ValuEngine lowered GlaxoSmithKline from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, Cowen set a $38.00 price target on GlaxoSmithKline and gave the stock a hold rating in a research report on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $38.57.

Shares of GlaxoSmithKline (GSK) traded up $0.66 during trading on Tuesday, reaching $37.50. The company had a trading volume of 4,999,657 shares, compared to its average volume of 4,839,211. The stock has a market capitalization of $91,325.41, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. GlaxoSmithKline has a 52 week low of $34.52 and a 52 week high of $44.53. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 2.96.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, November 10th were given a dividend of $0.5037 per share. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $2.01 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Thursday, November 9th. GlaxoSmithKline’s dividend payout ratio (DPR) is currently 167.21%.

In other news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $5,999,994.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in shares of GlaxoSmithKline in the second quarter valued at $602,000. Eagle Asset Management Inc. raised its stake in shares of GlaxoSmithKline by 10.9% in the second quarter. Eagle Asset Management Inc. now owns 11,162 shares of the pharmaceutical company’s stock valued at $481,000 after acquiring an additional 1,094 shares in the last quarter. Coastline Trust Co acquired a new stake in shares of GlaxoSmithKline in the second quarter valued at $202,000. Summit Global Investments raised its stake in shares of GlaxoSmithKline by 17.4% in the second quarter. Summit Global Investments now owns 14,620 shares of the pharmaceutical company’s stock valued at $630,000 after acquiring an additional 2,170 shares in the last quarter. Finally, SVA Plumb Wealth Management LLC acquired a new stake in shares of GlaxoSmithKline in the second quarter valued at $208,000. Institutional investors and hedge funds own 9.82% of the company’s stock.

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About GlaxoSmithKline

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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