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

by · The Cerbat Gem

Elanco Animal Health Incorporated (NYSE:ELAN – Get Free Report) was the target of a large decrease in short interest during the month of 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 trading volume, of 4,750,000 shares, the days-to-cover ratio is presently 2.4 days.

Insider Activity at Elanco Animal Health

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

Institutional Investors Weigh In On Elanco Animal Health

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Elanco Animal Health by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after acquiring an additional 852,281 shares during the last quarter. Ancora Advisors LLC lifted its position in Elanco Animal Health by 1.4% in the 1st quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock worth $173,239,000 after buying an additional 143,326 shares during the last quarter. Magnetar Financial LLC boosted its stake in Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after buying an additional 3,164,350 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Elanco Animal Health by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 5,990,546 shares of the company’s stock valued at $86,444,000 after acquiring an additional 609,194 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Elanco Animal Health during the second quarter worth approximately $55,599,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

Elanco Animal Health stock traded down $0.13 during mid-day trading on Thursday, reaching $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 market capitalization of $6.25 billion, a P/E ratio of -4.77, a PEG ratio of 1.32 and a beta of 1.40. The firm’s fifty day moving average price is $14.19 and its two-hundred day moving average price is $14.75. Elanco Animal Health has a 12-month low of $8.59 and a 12-month high of $18.80. 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 – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. Sell-side analysts predict that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays lowered their price objective on shares of Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective 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 given a buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Hold” and a consensus target price of $17.00.

Get Our Latest Stock Analysis on Elanco Animal Health

Elanco Animal Health Company Profile

(Get Free Report)

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.

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