Haleon (NYSE:HLN) Shares Gap Down - Here's What Happened

Key Points

• Haleon shares plunged 15.9%, opening at $8.55 versus the previous close of $10.00, with more than 8.6 million shares traded.
• Analyst sentiment remains mixed: Zacks downgraded the stock to “strong sell,” while other firms maintained “buy,” “overweight,” or “sector perform” ratings. MarketBeat lists a consensus “Moderate Buy” rating and a $4.90 average price target.
• Institutional investors and hedge funds adjusted their positions, including increased stakes from Bank of America and the Ohio public employees’ retirement system; institutions collectively own 6.67% of Haleon.

Haleon PLC Sponsored ADR (NYSE:HLN - Get Free Report) gapped down prior to trading on Thursday. The stock had previously closed at $10.00, but opened at $8.55. Haleon shares last traded at $8.5550, with a volume of 8,658,524 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on HLN. Zacks Research cut shares of Haleon from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 22nd. Berenberg Bank reiterated a "buy" rating on shares of Haleon in a research note on Wednesday, August 5th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Haleon in a report on Tuesday, August 11th. Morgan Stanley restated an "overweight" rating on shares of Haleon in a research report on Thursday, August 6th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Haleon in a report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $4.90.

Haleon Stock Down 15.9%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a market capitalization of $37.03 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.14. The stock's fifty day simple moving average is $9.59 and its two-hundred day simple moving average is $9.79.

Hedge Funds Weigh In On Haleon

Hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Haleon by 136.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 222,708 shares of the company's stock valued at $2,229,000 after purchasing an additional 128,493 shares during the last quarter. Bank of America Corp DE increased its position in shares of Haleon by 17.0% during the first quarter. Bank of America Corp DE now owns 10,934,228 shares of the company's stock worth $109,452,000 after buying an additional 1,586,230 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Haleon during the second quarter worth $1,186,000. Engineers Gate Manager LP bought a new position in Haleon during the second quarter worth $1,869,000. Finally, Goodman Financial Corp bought a new position in Haleon during the first quarter worth $11,488,000. Institutional investors and hedge funds own 6.67% of the company's stock.

Haleon Company Profile

Haleon plc NYSE: HLN is a global consumer health company that develops, manufactures and markets over-the-counter medicines, oral health products, vitamins and supplements. Its portfolio is organized around categories including pain relief, respiratory health, digestive health, therapeutic oral care, everyday oral care, vitamins and minerals, and skin health.

Haleon's well-known brands include Sensodyne, Polident, parodontax, Centrum, Advil, Voltaren, Panadol, Otrivin and Theraflu. The company's products are sold through pharmacies, supermarkets, retailers and e-commerce channels, serving consumers in markets around the world.

Haleon was established as an independent consumer health business following its demerger from GSK in July 2022.

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