Elanco Animal Health Incorporated (NYSE:ELAN) Sees Large Decrease in Short Interest

Elanco Animal Health Incorporated (NYSE:ELAN) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 11,520,000 shares, a decrease of 7.2% from the September 30th total of 12,420,000 shares. Based on an average daily volume of 4,750,000 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays decreased their target price 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. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Stifel Nicolaus restated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and an average price target of $17.00.

Insiders Place Their Bets

In related news, CEO Jeffrey N. Simmons purchased 100,000 shares of Elanco Animal Health 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 completion of the transaction, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael J. Harrington acquired 3,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price of $14.85 per share, for a total transaction 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. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. This represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Elanco Animal Health

Large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. lifted its holdings in Elanco Animal Health by 337.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after acquiring an additional 1,361 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Elanco Animal Health in the third quarter worth about $29,000. ORG Partners LLC bought a new position in shares of Elanco Animal Health in the second quarter worth about $31,000. nVerses Capital LLC bought a new position in shares of Elanco Animal Health during the 2nd quarter valued at approximately $32,000. Finally, Quarry LP purchased a new stake in Elanco Animal Health in the 2nd quarter worth approximately $40,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Down 1.0 %

Shares of ELAN stock traded down $0.13 during mid-day trading on Thursday, hitting $12.65. The company’s stock had a trading volume of 8,818,831 shares, compared to its average volume of 4,762,507. 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 has a 52-week low of $8.59 and a 52-week high of $18.80. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -4.77, a PEG ratio of 1.32 and a beta of 1.40. The business has a 50-day moving average price of $14.19 and a 200 day moving average price of $14.75.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

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.