Haleon plc (LSE/NYSE:HLN), a leader in consumer health, announced today that Dawn Allen, the company’s Chief Financial Officer, has vested an award of Haleon Ordinary Shares and sold a portion to cover tax obligations. The transaction took place on Monday, with Allen retaining a significant number of shares.
On Monday, Allen received the vesting of an award of Haleon Ordinary Shares under the company's Share Value Plan, initially granted as compensation for forfeited incentives from her previous employer. Following the vesting, Allen sold 74,678.928393 shares at £3.718 each to meet tax liabilities. She retained 83,974.071607 shares, which are subject to a two-year holding period and the company's malus and clawback provisions.
The transaction was conducted outside a trading venue for the vesting and on the London Stock Exchange (LON:LSEG) for the sale. The details of the transaction were disclosed in compliance with the UK Market Abuse Regulation, ensuring transparency of managerial transactions.
Haleon, known for trusted brands such as Advil, Sensodyne, and Centrum, operates in the consumer health sector, focusing on products ranging from Oral Health to Vitamins, Minerals, and Supplements. The company aims to deliver better everyday health with humanity through its portfolio.
In other recent news, Haleon plc has announced significant earnings and revenue results. The company completed a £230 million off-market share repurchase from Pfizer Inc. (NYSE:PFE) and increased its stake in the Chinese joint venture, Tianjin TSKF Pharmaceutical (TADAWUL:2070) Co. Ltd, to 88%. Haleon also finalized the divestment of its nicotine replacement therapy business to Dr. Reddy's Laboratories SA, in a deal worth up to £500 million.
Morgan Stanley (NYSE:MS) has adjusted its outlook for Haleon, reducing its price target slightly but maintaining an Overweight rating on the stock. This adjustment comes despite a minor reduction in EPS estimates for FY25/26. Meanwhile, Goldman Sachs downgraded Haleon's stock from "Buy" to "Neutral," while Berenberg initiated coverage with a "Buy" rating.
Haleon's newly appointed CFO, Dawn Allen, has been granted share awards as part of her compensation package, amounting to 1,250,303 shares at a nil price. These awards are subject to performance and continued employment conditions, with vesting periods ending in 2025 and 2026. The company also reported an update to its total voting rights and share capital, revealing a total of 9,083,725,919 ordinary shares.
InvestingPro Insights
Haleon's financial health appears robust, as evidenced by recent InvestingPro data. The company boasts a market capitalization of $42.44 billion, reflecting its significant presence in the consumer health sector. With a P/E ratio of 28.39, Haleon's valuation is in line with many growth-oriented companies in the healthcare industry.
InvestingPro Tips highlight Haleon's financial strengths. The company operates with impressive gross profit margins, which stood at 62.2% for the last twelve months as of Q3 2023. This aligns with Haleon's focus on trusted consumer health brands, which often command premium pricing. Additionally, Haleon has been profitable over the last twelve months, with analysts predicting continued profitability this year.
The company's stock generally trades with low price volatility, which may be appealing to investors seeking stability in their portfolio. This characteristic is particularly noteworthy given the recent transaction by CFO Dawn Allen, as it suggests that such insider activities may have limited impact on overall stock performance.
For investors interested in a deeper analysis, InvestingPro offers 5 additional tips on Haleon, providing further insights into the company's financial position and market performance.
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