Short Interest in Elanco Animal Health Incorporated (NYSE:ELAN) Expands By 24.8%

Elanco Animal Health Incorporated (NYSE:ELANGet Rating) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 14,380,000 shares, an increase of 24.8% from the March 15th total of 11,520,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average trading volume of 4,740,000 shares, the short-interest ratio is presently 3.0 days.

A number of brokerages recently commented on ELAN. Zacks Investment Research raised Elanco Animal Health from a “sell” rating to a “hold” rating in a research note on Monday, February 28th. Barclays increased their target price on Elanco Animal Health from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, February 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $38.43.

In other Elanco Animal Health news, Director R David Hoover acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was purchased at an average price of $28.66 per share, with a total value of $143,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.11% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELAN. Signaturefd LLC boosted its holdings in Elanco Animal Health by 379.1% during the 3rd quarter. Signaturefd LLC now owns 3,430 shares of the company’s stock valued at $109,000 after acquiring an additional 2,714 shares during the period. M&T Bank Corp boosted its holdings in Elanco Animal Health by 9.3% during the 3rd quarter. M&T Bank Corp now owns 219,419 shares of the company’s stock valued at $6,998,000 after acquiring an additional 18,690 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Elanco Animal Health by 223.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 24,286 shares of the company’s stock valued at $776,000 after acquiring an additional 16,786 shares during the period. Mastrapasqua Asset Management Inc. purchased a new position in Elanco Animal Health during the 3rd quarter valued at about $1,268,000. Finally, Nordea Investment Management AB boosted its holdings in Elanco Animal Health by 100.0% during the 3rd quarter. Nordea Investment Management AB now owns 50,344 shares of the company’s stock valued at $1,618,000 after acquiring an additional 25,172 shares during the period. Institutional investors and hedge funds own 97.90% of the company’s stock.

NYSE ELAN traded up $0.26 during mid-day trading on Tuesday, hitting $26.00. The stock had a trading volume of 24,484 shares, compared to its average volume of 4,655,184. The firm’s 50 day moving average is $26.54 and its 200 day moving average is $28.61. Elanco Animal Health has a twelve month low of $24.15 and a twelve month high of $37.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.16. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of -26.81, a PEG ratio of 1.11 and a beta of 0.78.

Elanco Animal Health (NYSE:ELANGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Elanco Animal Health had a positive return on equity of 6.59% and a negative net margin of 9.91%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the company earned $0.12 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Elanco Animal Health will post 1.21 earnings per share for the current year.

About Elanco Animal Health (Get Rating)

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.

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