Elanco Animal Health (NYSE:ELAN) Sees Unusually-High Trading Volume

Elanco Animal Health Incorporated (NYSE:ELAN) saw unusually-strong trading volume on Friday . Approximately 3,780,042 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 4,590,979 shares.The stock last traded at $14.95 and had previously closed at $14.27.

Analyst Ratings Changes

A number of analysts recently weighed in on ELAN shares. Piper Sandler restated a “neutral” rating and issued a $19.00 price target (up from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. Barclays decreased their price target on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Elanco Animal Health Stock Performance

The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of -5.45, a PEG ratio of 1.38 and a beta of 1.45. The firm has a fifty day moving average of $16.43 and a 200-day moving average of $15.70. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95.

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

Insider Transactions at Elanco Animal Health

In related news, Director William F. Doyle purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost 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 in the company, valued at approximately $1,296,083.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Elanco Animal Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA grew its position in shares of Elanco Animal Health by 2.9% in the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock valued at $753,945,000 after purchasing an additional 1,431,665 shares during the period. Vanguard Group Inc. grew its position in shares of Elanco Animal Health by 1.0% in the fourth 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 during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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 purchasing an additional 852,281 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Elanco Animal Health by 33.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock valued at $224,920,000 after purchasing an additional 3,816,514 shares during the period. Finally, Ancora Advisors LLC grew its position in Elanco Animal Health by 1.4% during the first quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock valued at $173,239,000 after acquiring an additional 143,326 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.