Haleon plc (NYSE:HLN – Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 21,050,000 shares, a decline of 7.1% from the October 15th total of 22,660,000 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 5,310,000 shares, the days-to-cover ratio is presently 4.0 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dodge & Cox increased its stake in shares of Haleon by 16.1% in the first quarter. Dodge & Cox now owns 112,055,605 shares of the company’s stock valued at $912,133,000 after buying an additional 15,545,632 shares during the period. FMR LLC increased its stake in shares of Haleon by 22.2% in the third quarter. FMR LLC now owns 53,951,936 shares of the company’s stock valued at $449,420,000 after buying an additional 9,812,040 shares during the period. Clearbridge Investments LLC increased its position in Haleon by 2.2% during the 3rd quarter. Clearbridge Investments LLC now owns 25,969,502 shares of the company’s stock valued at $216,326,000 after purchasing an additional 559,623 shares during the period. Harding Loevner LP increased its position in Haleon by 36.6% during the 2nd quarter. Harding Loevner LP now owns 13,260,374 shares of the company’s stock valued at $111,122,000 after purchasing an additional 3,554,361 shares during the period. Finally, JTC Employer Solutions Trustee Ltd increased its position in Haleon by 6.5% during the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 9,322,295 shares of the company’s stock valued at $77,608,000 after purchasing an additional 567,001 shares during the period. Institutional investors and hedge funds own 6.67% of the company’s stock.
Haleon Price Performance
NYSE HLN remained flat at $8.25 during trading on Friday. The company’s stock had a trading volume of 2,910,528 shares, compared to its average volume of 4,453,054. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 0.53. Haleon has a 12-month low of $6.67 and a 12-month high of $9.05. The firm’s fifty day moving average price is $8.19 and its 200 day moving average price is $8.33.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on HLN shares. Investec raised shares of Haleon from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Morgan Stanley assumed coverage on shares of Haleon in a research report on Wednesday, November 1st. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $364.00.
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, pain relief, respiratory health, digestive health, and other products, as well as vitamins, minerals, and supplements.
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