Elanco Animal Health (NYSE:ELAN) Shares Gap Down to $14.65

Elanco Animal Health Incorporated (NYSE:ELAN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $14.65, but opened at $14.34. Elanco Animal Health shares last traded at $14.32, with a volume of 194,073 shares traded.

Wall Street Analyst Weigh In

ELAN has been the topic of a number of analyst reports. Barclays reduced their price target on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $15.00 in a research note on Thursday. Finally, Piper Sandler reduced their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.29.

Elanco Animal Health Stock Performance

The stock has a market cap of $7.48 billion, a PE ratio of -5.25, a P/E/G ratio of 1.44 and a beta of 1.40. The firm’s 50-day moving average is $13.92 and its 200 day moving average is $15.17. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insider Buying and Selling

In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael J. Harrington bought 3,500 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares in the company, valued at approximately $1,204,245.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey N. Simmons acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of Elanco Animal Health by 337.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after buying an additional 1,361 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Elanco Animal Health during the 2nd quarter worth $32,000. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health during the second quarter worth $31,000. Jones Financial Companies Lllp purchased a new stake in shares of Elanco Animal Health in the fourth quarter valued at $37,000. Finally, Quarry LP acquired a new stake in Elanco Animal Health in the 2nd quarter worth about $40,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.