Elanco Animal Health’s Lock-Up Period To Expire Tomorrow (NASDAQ:ELAN)

Elanco Animal Health’s (NASDAQ:ELAN) lock-up period will expire on Tuesday, March 19th. Elanco Animal Health had issued 62,900,000 shares in its IPO on September 20th. The total size of the offering was $1,509,600,000 based on an initial share price of $24.00. After the expiration of Elanco Animal Health’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

ELAN has been the subject of a number of recent analyst reports. Argus initiated coverage on Elanco Animal Health in a research note on Tuesday, January 15th. They issued a “buy” rating and a $37.00 price target for the company. Zacks Investment Research raised Elanco Animal Health from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Monday, December 17th. Morgan Stanley initiated coverage on Elanco Animal Health in a research note on Wednesday, March 13th. They issued an “equal weight” rating and a $34.00 price target for the company. Credit Suisse Group reaffirmed a “hold” rating and issued a $36.00 price target on shares of Elanco Animal Health in a research note on Monday, December 17th. Finally, BMO Capital Markets lowered their price target on Elanco Animal Health from $37.00 to $32.00 and set a “market perform” rating for the company in a research note on Wednesday, December 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.48.

NASDAQ ELAN opened at $30.64 on Monday. Elanco Animal Health has a 52-week low of $28.00 and a 52-week high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last posted its earnings results on Wednesday, February 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $799.30 million for the quarter, compared to the consensus estimate of $804.07 million. During the same period in the previous year, the company posted $0.12 earnings per share. Elanco Animal Health’s revenue for the quarter was up 6.0% compared to the same quarter last year.

In other Elanco Animal Health news, Director R David Hoover bought 20,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average cost of $31.43 per share, with a total value of $628,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

A number of hedge funds and other institutional investors have recently bought and sold shares of ELAN. Morgan Stanley bought a new position in shares of Elanco Animal Health during the 3rd quarter worth approximately $314,448,000. Amundi Pioneer Asset Management Inc. grew its stake in shares of Elanco Animal Health by 115,239.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,766,978 shares of the company’s stock worth $181,833,000 after acquiring an additional 5,761,978 shares in the last quarter. Vanguard Group Inc bought a new position in shares of Elanco Animal Health during the 3rd quarter worth approximately $176,182,000. Vanguard Group Inc. bought a new position in shares of Elanco Animal Health during the 3rd quarter worth approximately $176,182,000. Finally, FMR LLC grew its stake in shares of Elanco Animal Health by 34.5% during the 4th quarter. FMR LLC now owns 4,415,172 shares of the company’s stock worth $139,210,000 after acquiring an additional 1,131,504 shares in the last quarter.

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Elanco Animal Health Company Profile

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