Several Reasons for the Outperformance of GSK plc (GSK) in Q3

Ariel Investments, an investment management company, released its “Ariel Global Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the Ariel Global fund traded -3.16% lower, ahead of its primary benchmark the MSCI ACWI Index’s -3.40% return while underperformed its secondary benchmark MSCI ACWI Value Index’s -1.76% loss. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Global Fund highlighted stocks like GSK plc (NYSE:GSK) in its Q3 2023 investor letter. Headquartered in Brentford, the United Kingdom, GSK plc (NYSE:GSK) is a pharmaceutical company. On December 13, 2023, GSK plc (NYSE:GSK) stock closed at $36.74 per share. One-month return of GSK plc (NYSE:GSK) was 6.68%, and its shares gained 3.12% of their value over the last 52 weeks. GSK plc (NYSE:GSK) has a market capitalization of $75.593 billion.

Ariel Global Fund made the following comment about GSK plc (NYSE:GSK) in its Q3 2023 investor letter:

“Global pharmaceutical and healthcare company, GSK plc (NYSE:GSK), also advanced in the period following a top- and bottom-line earnings beat and subsequent raise in full-year guidance. Shares were also aided by a successful U.S. and European launch of Arexvy, a respiratory syncytial virus (RSV) vaccine for older adults. Although risks around the Zantac litigation remain a concern, we believe GSK should generate sustainable growth and margin expansion as the company transitions its Pharma pipeline towards specialty medicines and vaccines. Furthermore, the company’s robust balance sheet provides the scope for bolt-ons, which has the potential to drive additional growth.”

A doctor wearing a lab coat standing beside shelves of medications, representing the biopharmaceutical company’s efforts in drug candidate development.

GSK plc (NYSE:GSK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held GSK plc (NYSE:GSK) at the end of third quarter which was 35 in the previous quarter.

We discussed GSK plc (NYSE:GSK) in another article and shared the list of largest pharmaceutical companies in the world. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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 Disclosure: None. This article is originally published at Insider Monkey.