Elanco Animal Health Incorporated (NYSE:ELAN) Sees Large Decline in Short Interest

Elanco Animal Health Incorporated (NYSE:ELAN) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 12,090,000 shares, a decrease of 9.1% from the August 31st total of 13,300,000 shares. Based on an average daily trading volume, of 5,660,000 shares, the days-to-cover ratio is currently 2.1 days.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELAN. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Elanco Animal Health in the first quarter valued at approximately $1,226,000. Vanguard Group Inc. grew its stake in Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock worth $737,083,000 after acquiring an additional 467,196 shares during the period. Bank of Nova Scotia acquired a new position in Elanco Animal Health in the 4th quarter valued at $4,004,000. Wolf Hill Capital Management LP purchased a new position in shares of Elanco Animal Health during the 4th quarter worth $20,683,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Elanco Animal Health during the first quarter worth $4,956,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Trading Up 2.5 %

Shares of Elanco Animal Health stock opened at $14.68 on Tuesday. Elanco Animal Health has a 1 year low of $8.52 and a 1 year high of $18.80. 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 business has a 50 day moving average price of $14.09 and a 200 day moving average price of $15.06. The company has a market capitalization of $7.25 billion, a P/E ratio of -5.54, a P/E/G ratio of 1.33 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. Sell-side analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.