Elanco Animal Health (NYSE:ELAN) Trading 5.4% Higher

Elanco Animal Health Incorporated (NYSE:ELAN)’s stock price shot up 5.4% on Monday . The stock traded as high as $15.14 and last traded at $15.09. 425,409 shares changed hands during trading, a decline of 91% from the average session volume of 4,835,910 shares. The stock had previously closed at $14.32.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their price objective on Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Piper Sandler lowered their price target on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.43.

Elanco Animal Health Trading Up 4.1 %

The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The firm’s fifty day moving average price is $14.05 and its 200-day moving average price is $15.07. The company has a market cap of $7.36 billion, a price-to-earnings ratio of -5.40, a P/E/G ratio of 1.33 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. Elanco Animal Health’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Activity at Elanco Animal Health

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

Hedge Funds Weigh In On Elanco Animal Health

A number of hedge funds and other institutional investors have recently modified their holdings of ELAN. Benjamin F. Edwards & Company Inc. boosted its stake in Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares during the period. ORG Partners LLC acquired a new stake in Elanco Animal Health during the 2nd quarter worth about $31,000. nVerses Capital LLC purchased a new position in Elanco Animal Health during the second quarter valued at approximately $32,000. Jones Financial Companies Lllp acquired a new stake in shares of Elanco Animal Health during the 4th quarter valued at $37,000. Finally, Quarry LP purchased a new position in shares of Elanco Animal Health during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.