Haleon (NYSE:HLN) Stock Price Down 3.4% - Here's What Happened

Shares of Haleon plc (NYSE:HLN - Get Free Report) dropped 3.4% during mid-day trading on Tuesday . The stock traded as low as $11.01 and last traded at $11.02. Approximately 15,858,390 shares were traded during trading, an increase of 85% from the average daily volume of 8,566,910 shares. The stock had previously closed at $11.41.

Analyst Ratings Changes

HLN has been the topic of a number of research analyst reports. HSBC reiterated a "hold" rating on shares of Haleon in a research report on Wednesday, March 5th. Morgan Stanley upgraded Haleon from an "equal weight" rating to an "overweight" rating and set a $11.25 price objective for the company in a research note on Friday, May 9th. Barclays reissued an "overweight" rating on shares of Haleon in a research report on Tuesday, May 6th. Hsbc Global Res cut shares of Haleon from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, BNP Paribas Exane upgraded shares of Haleon from a "neutral" rating to an "outperform" rating and set a $13.40 target price for the company in a research note on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.33.

Haleon Trading Down 0.4%

The firm has a market capitalization of $49.84 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 2.82 and a beta of 0.31. The business's 50 day moving average price is $10.50 and its 200-day moving average price is $10.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.58.

Hedge Funds Weigh In On Haleon

A number of large investors have recently modified their holdings of HLN. Sierra Ocean LLC purchased a new stake in shares of Haleon in the fourth quarter valued at approximately $26,000. Bartlett & CO. Wealth Management LLC lifted its holdings in Haleon by 135.9% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 2,588 shares of the company's stock valued at $27,000 after acquiring an additional 1,491 shares during the period. Banque Transatlantique SA purchased a new stake in shares of Haleon during the 1st quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Haleon during the 1st quarter worth $29,000. Finally, Ransom Advisory Ltd acquired a new position in shares of Haleon during the 1st quarter worth $31,000. 6.67% of the stock is owned by hedge funds and other institutional investors.

Haleon Company Profile

Haleon plc, together with its subsidiaries, engages in the research, development, manufacture, and sale of various consumer healthcare products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company provides oral health products, such as toothpastes, mouth washes, and denture care products under the Sensodyne, Polident, Parodontax, Biotene brands; and vitamins, minerals, and supplements under Centrum, Emergen-C, Caltrate brands.