Elanco Animal Health (NYSE:ELAN) Trading Up 10.7% – Here’s What Happened

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) shot up 10.7% on Thursday . The company traded as high as $14.39 and last traded at $14.23. 908,720 shares traded hands during trading, a decline of 81% from the average session volume of 4,746,562 shares. The stock had previously closed at $12.86.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Elanco Animal Health currently has an average rating of “Hold” and an average price target of $17.00.

Elanco Animal Health Price Performance

The firm has a market capitalization of $7.09 billion, a PE ratio of -5.58, a P/E/G ratio of 1.31 and a beta of 1.41. 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 company has a fifty day moving average price of $13.97 and a two-hundred day moving average price of $14.72.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate 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 company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. Sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the purchase, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jeffrey N. Simmons purchased 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The trade was a 200.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Harrington purchased 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. boosted its position in shares of Elanco Animal Health by 337.7% during 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 in the last quarter. ORG Wealth Partners LLC purchased a new stake in Elanco Animal Health during the third quarter worth about $29,000. ORG Partners LLC acquired a new position in Elanco Animal Health during the second quarter worth about $31,000. nVerses Capital LLC purchased a new position in Elanco Animal Health in the second quarter valued at about $32,000. Finally, AM Squared Ltd purchased a new position in Elanco Animal Health in the third quarter valued at about $34,000. 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.