Ken Fisher Strategy: 5 New Stock Picks

2. GSK plc (NYSE:GSK)

Number of Hedge Fund Holders: 34

Fisher Asset Management’s Stake Value: $358,218,000

GSK plc (NYSE:GSK) is a UK-based company that focuses on the discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products. The company operates through four segments – Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

Securities filings for the third quarter of 2022 reveal that Fisher Asset Management added GSK plc (NYSE:GSK) to its portfolio by acquiring more than 12 million shares worth $358.2 million, representing 0.26% of the total securities. 

On November 11, UBS analyst Michael Leuchten downgraded GSK plc (NYSE:GSK) to Sell from Neutral with a price target of 1,300 GBp, down from 1,820 GBp. The analyst sees “uncertain times ahead still” as well as an “unattractive earnings scenario” after 2026. 

According to Insider Monkey’s data, 34 hedge funds were long GSK plc (NYSE:GSK) at the end of Q2 2022, compared to 33 funds in the prior quarter. Arrowstreet Capital held a prominent stake in the company, comprising approximately 10 million shares worth about $435 million.