Short Interest in GSK plc (NYSE:GSK) Declines By 6.5%
GSK plc (NYSE:GSK – Get Free Report) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,740,000 shares, a drop of 6.5% from the October 31st total of 4,000,000 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 3,680,000 shares, the days-to-cover ratio is presently 1.0 days.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1,565.00.
Check Out Our Latest Research Report on GSK
GSK Stock Performance
Shares of NYSE:GSK traded up $0.06 during midday trading on Monday, reaching $36.63. The company had a trading volume of 3,358,894 shares, compared to its average volume of 3,396,556. The company’s 50 day moving average price is $35.72 and its 200 day moving average price is $35.39. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 1.27. The stock has a market cap of $75.00 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.73 and a beta of 0.64. GSK has a 52-week low of $33.20 and a 52-week high of $39.74.
GSK (NYSE:GSK – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The pharmaceutical company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.17. The company had revenue of $10.32 billion for the quarter, compared to the consensus estimate of $9.72 billion. GSK had a net margin of 20.47% and a return on equity of 52.88%. As a group, sell-side analysts anticipate that GSK will post 3.93 EPS for the current fiscal year.
GSK Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 17th will be issued a $0.3398 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, November 16th. GSK’s payout ratio is 35.75%.
Institutional Investors Weigh In On GSK
A number of institutional investors and hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its holdings in shares of GSK by 17.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 48,795 shares of the pharmaceutical company’s stock worth $1,786,000 after buying an additional 7,420 shares in the last quarter. EP Wealth Advisors LLC grew its position in GSK by 133.6% during the third quarter. EP Wealth Advisors LLC now owns 15,446 shares of the pharmaceutical company’s stock valued at $560,000 after acquiring an additional 8,834 shares during the last quarter. Verity Asset Management Inc. bought a new position in GSK during the third quarter valued at approximately $300,000. OLD National Bancorp IN grew its position in GSK by 13.8% during the third quarter. OLD National Bancorp IN now owns 12,350 shares of the pharmaceutical company’s stock valued at $448,000 after acquiring an additional 1,498 shares during the last quarter. Finally, Creative Planning grew its position in GSK by 21.4% during the third quarter. Creative Planning now owns 200,059 shares of the pharmaceutical company’s stock valued at $7,252,000 after acquiring an additional 35,231 shares during the last quarter. 13.53% of the stock is owned by hedge funds and other institutional investors.
GSK Company Profile (Get Free Report)
GSK plc, together with its subsidiaries, engages in the research, development and manufacture of vaccines and specialty medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.
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Original: MarketBeat News Feed: Short Interest in GSK plc (NYSE:GSK) Declines By 6.5%