Elanco Animal Health (NYSE:ELAN) Stock Price Up 5.4%

Elanco Animal Health Incorporated (NYSE:ELAN) shares traded up 5.4% during mid-day trading on Monday . The stock traded as high as $15.14 and last traded at $15.09. 425,409 shares changed hands during mid-day 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 weighed in on ELAN shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Piper Sandler lowered 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. Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Barclays increased their price objective on Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.43.

Elanco Animal Health Price Performance

The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $14.05 and a 200-day simple moving average of $15.07. The company has a market capitalization of $7.36 billion, a PE 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 analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $1.18 billion for 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 was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Equities analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, for a total transaction of $51,975.00. Following 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 filing with the Securities & Exchange Commission, 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 on Thursday, August 22nd. The stock was bought 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 owns 81,094 shares in the company, valued at $1,204,245.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the transaction, the chief executive officer now directly owns 145,000 shares in the company, 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 institutional investors have recently made changes to their positions in ELAN. Hunter Associates Investment Management LLC boosted its stake in shares of Elanco Animal Health by 5.1% during the 1st quarter. Hunter Associates Investment Management LLC now owns 16,600 shares of the company’s stock worth $269,000 after purchasing an additional 800 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in Elanco Animal Health by 3.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company’s stock worth $352,000 after acquiring an additional 893 shares during the period. HBK Sorce Advisory LLC raised its holdings in Elanco Animal Health by 9.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company’s stock valued at $186,000 after acquiring an additional 1,107 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Elanco Animal Health by 11.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company’s stock worth $177,000 after purchasing an additional 1,221 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Elanco Animal Health by 5.0% during the second quarter. Resonant Capital Advisors LLC now owns 27,325 shares of the company’s stock worth $394,000 after purchasing an additional 1,306 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

About Elanco Animal Health

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.