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

Elanco Animal Health Incorporated (NYSE:ELAN)’s stock price rose 5.4% during trading on Monday . The stock traded as high as $15.14 and last traded at $15.09. Approximately 425,409 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 4,835,910 shares. The stock had previously closed at $14.32.

Analyst Upgrades and Downgrades

ELAN has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 1st. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Barclays raised their price objective on shares of Elanco Animal Health from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health has an average rating of “Hold” and an average price target of $17.43.

Elanco Animal Health Stock Performance

The company has a market cap of $7.17 billion, a PE ratio of -5.48, a PEG ratio of 1.33 and a beta of 1.40. The business’s 50-day moving average is $14.11 and its 200 day moving average is $15.05. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93.

Elanco Animal Health (NYSE:ELAN) last issued 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 company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Elanco Animal Health news, CEO Jeffrey N. Simmons bought 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey N. Simmons purchased 100,000 shares of the business’s stock in a transaction on 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 acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at $1,886,450. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Harrington purchased 3,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the acquisition, the director now owns 81,094 shares in the company, valued at $1,204,245.90. The disclosure for this purchase can be found here. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Elanco Animal Health

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Elanco Animal Health by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after purchasing an additional 467,196 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Elanco Animal Health by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after purchasing an additional 852,281 shares in the last quarter. Ancora Advisors LLC boosted its stake in shares of Elanco Animal Health by 1.4% during the 1st quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock valued at $173,239,000 after purchasing an additional 143,326 shares in the last quarter. Magnetar Financial LLC boosted its stake in shares of Elanco Animal Health by 61.2% during the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after purchasing an additional 3,164,350 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Elanco Animal Health by 11.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock valued at $86,444,000 after purchasing an additional 609,194 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

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.