The GlaxoSmithKline share price has slumped 22%! Here’s why I’d buy it

first_img Click here to get access to our presentation, and learn how to get the name of this ‘double agent’! Simply click below to discover how you can take advantage of this. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Rupert Hargreaves | Saturday, 14th November, 2020 | More on: GSK Our 6 ‘Best Buys Now’ Shares Image source: Getty Images The GlaxoSmithKline (LSE: GSK) share price has plunged since the beginning of the year. The stock is off around 22% since the beginning of 2020. I’m struggling to understand why investor sentiment towards the pharmaceutical giant has deteriorated so rapidly this year. True, the pandemic has impacted the group, but this shock was relatively limited. Moreover, in its latest trading update, management reassured investors that profits were on track for a recovery in the second half. Still, despite this positive update, investors have continued to sell the stock. I think this could be a fantastic opportunity to take advantage of the GlaxoSmithKline share price while it trades at a low level. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…GlaxoSmithKline share price on offer While GlaxoSmithKline has many different revenue streams, one of the company’s most significant product lines is vaccines. The group is a major supplier for key vaccination programmes around the world in developed and emerging markets.Unfortunately, at the height of the pandemic, many of these vaccination programmes were postponed. As such, management warned earlier in the year that the business many not meet the profit forecasts it set out at the beginning of 2020. The good news is that many of these programmes have now restarted. Glaxo’s sales performance has begun to pick up. Group earnings per share ticked up by 1% during the third quarter.With the pandemic headwinds behind the business, I’m optimistic about the outlook for the GlaxoSmithKline share price. But it does not seem as if the rest of the market shares my optimistic outlook. The stock is trading at one of its lowest valuations in a decade. Shares in the pharmaceutical giant also support a dividend yield of 5.7%. That seems extremely attractive in the current interest rate environment. Long-term growth I think this could be a great opportunity. Glaxo is one of the most defensive companies on the London market. The demand for lifesaving treatments and vaccines is only expanding. That’s without giving any credit to the group’s Covid-19 vaccine, which is currently on track to hit the market in the second half of next year.As long as Glaxo continues to invest in research and development, I think the company’s top and bottom lines will continue to grow. At the same time, the group continues to offer one of the best dividend yields in the FTSE 100. I believe there are only a handful of companies that offer the same kind of defensive income credentials as GlaxoSmithKline. Therefore, I am a buyer of the stock today as it continues to trade at a low level. And as the firm pushes ahead with its growth plans, I can pick up that 5.7% dividend yield. In my opinion, this level of income combined with the group’s growth potential and low valuation are all highly desirable one-of-a-kind qualities.  Rupert Hargreaves owns no share mentioned. The Motley Fool UK has recommended GlaxoSmithKline. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img See all posts by Rupert Hargreaves Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. The GlaxoSmithKline share price has slumped 22%! Here’s why I’d buy it Enter Your Email Address There’s a ‘double agent’ hiding in the FTSE… we recommend you buy it! Don’t miss our special stock presentation.It contains details of a UK-listed company our Motley Fool UK analysts are extremely enthusiastic about.They think it’s offering an incredible opportunity to grow your wealth over the long term – at its current price – regardless of what happens in the wider market.That’s why they’re referring to it as the FTSE’s ‘double agent’.Because they believe it’s working both with the market… And against it.To find out why we think you should add it to your portfolio today…last_img read more

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5 Houston officers injured in ambush-style attack; 2 suspects dead, according to police

first_imgEvgen_Prozhyrko/iStock(HOUSTON) — Five Houston police officers were injured in an ambush-style attack on Monday night while investigating a suspected drug case.The officers were met with gunfire “immediately upon reaching the door” while serving a search warrant at a home in southeast Houston, according the Houston Police Department.Four officers were struck with gunfire and a fifth sustained a knee injury, according to the department.“This has been a tough day for our city. I encourage all Houstonians to pray for our police officers who were shot today,” Houston Mayor Sylvester Turner said during a press conference on Monday. “One will be discharged tonight, thank goodness. Pray for their families, too!”The wounded officers were transported to a local hospital. Two of the officers were in critical, but stable, condition and two others were in good condition but being held for observation, the department said.One officer, who was shot in the shoulder, has been released from the hospital, authorities said. None of the remaining officers still in the hospital will be released tonight.“As a result of exchange of gunfire between our officers and one or two suspects, we have five officers injured,” Houston Police Chief Art Acevedo said during the press conference. “Four were struck by gunfire, two officers are currently in surgery. They are in surgery for gunfire sustained and they are in critical but stable condition. We’re hopeful that with the prayers of this community that they will recover.”Acevedo said two suspects were killed at the home and the department is looking for other possible suspects.Copyright © 2019, ABC Radio. All rights reserved.last_img read more

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Johnson City seeks public’s help with Jenison Park improvements

first_imgImprovements to the park located at 55 Willow St. include additions of public art. When complete, Jenison Park will be one of three public art hubs in Binghamton, Endicott and the village, according to the Office of Johnson City Mayor Greg Deemie. To take the survey, click here. The survey is open until Oct. 23. The village says it and Broome County received funding from the state to make enhancements to the park.center_img JOHNSON CITY (WBNG) — The village of Johnson City is looking for feedback on Jenison Park improvements. Results from the survey will be used to prioritize park improvements.last_img read more

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