Elanco Animal Health (NYSE:ELAN) Shares Gap Down to $17.97

Elanco Animal Health Incorporated (NYSE:ELAN) gapped down before the market opened on Thursday . The stock had previously closed at $17.97, but opened at $16.06. Elanco Animal Health shares last traded at $14.75, with a volume of 869,925 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays decreased their target price on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday. Piper Sandler restated a “neutral” rating and set a $19.00 price objective (up from $18.00) on shares of Elanco Animal Health in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Elanco Animal Health Stock Up 1.1 %

The stock’s fifty day moving average price is $16.43 and its 200-day moving average price is $15.68. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.93 EPS for the current fiscal year.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director William F. Doyle bought 15,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $16.98 per share, with a total value of $254,700.00. Following the completion of the acquisition, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Elanco Animal Health

A number of hedge funds have recently modified their holdings of ELAN. Norges Bank purchased a new stake in shares of Elanco Animal Health in the fourth quarter valued at about $62,510,000. Dimensional Fund Advisors LP boosted its stake in Elanco Animal Health by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock worth $224,920,000 after buying an additional 3,816,514 shares during the period. Primecap Management Co. CA boosted its stake in Elanco Animal Health by 2.9% during the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after buying an additional 1,431,665 shares during the period. Wolf Hill Capital Management LP purchased a new position in Elanco Animal Health during the fourth quarter worth about $20,683,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after buying an additional 852,281 shares during the period. Hedge funds and other institutional investors 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.