Should You Hold GSK plc (GSK) Stock?

Ariel Investments, an investment management company, released its “Ariel Global Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined -10.05%, underperforming the MSCI ACWI Index and the MSCI ACWI Value Index, which returned -6.82% and -7.66%, respectively. Multiple headwinds from all over the world affected the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Ariel Investment highlighted stocks like GSK plc (NYSE:GSK) in its Q3 2022 investor letter. Headquartered in Brentford, the United Kingdom, GSK plc (NYSE:GSK) is a UK-based pharmaceutical company. On December 2, 2022, GSK plc (NYSE:GSK) stock closed at $35.35 per share. One-month return of GSK plc (NYSE:GSK) was 10.68%, and its shares lost 18.85% of their value over the last 52 weeks. GSK plc (NYSE:GSK) has a market capitalization of $71.891 billion.

Ariel Investment made the following comment about GSK plc (NYSE:GSK) in its Q3 2022 investor letter:

“By comparison, health care leader GSK plc (NYSE:GSK) was the largest detractor from performance in the quarter. Investors are concerned about legal liabilities associated with its antacid drug Zantac. While it is impossible to know the outcome with certainty, our preliminary assessment suggests that the decline in market capitalization exceeds the likely financial impact on the company.”

GSK plc (NYSE:GSK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held GSK plc (NYSE:GSK) at the end of the third quarter, which was 34 in the previous quarter.

We discussed GSK plc (NYSE:GSK) in another article and shared the list of best biotech stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q3 2022 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.