Elanco Animal Health (NYSE:ELAN) Shares Down 3.5%

Elanco Animal Health Incorporated (NYSE:ELAN) shares were down 3.5% on Friday . The company traded as low as $14.45 and last traded at $14.54. Approximately 286,777 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 4,781,891 shares. The stock had previously closed at $15.07.

Analyst Ratings Changes

Several research firms recently weighed in on ELAN. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Thursday. Barclays cut their price target on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday. Finally, Piper Sandler cut their target price on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.29.

Elanco Animal Health Price Performance

The stock has a market cap of $7.05 billion, a PE ratio of -5.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. The company’s fifty day moving average is $13.95 and its 200 day moving average is $15.17.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was bought at an average cost 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 of the company’s stock, valued at $1,204,245.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 100,000 shares of Elanco Animal Health stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Harrington acquired 3,500 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now owns 81,094 shares of the company’s stock, valued at $1,204,245.90. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Institutional Trading of Elanco Animal Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA lifted its position in Elanco Animal Health by 2.9% in the 4th 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 last quarter. Vanguard Group Inc. increased its position in Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after acquiring an additional 467,196 shares during the period. Price T Rowe Associates Inc. MD raised its stake in 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 acquiring an additional 852,281 shares in the last quarter. Ancora Advisors LLC boosted its position in Elanco Animal Health by 1.4% during the 1st quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock worth $173,239,000 after acquiring an additional 143,326 shares during the period. Finally, Magnetar Financial LLC grew its stake in shares of 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 purchasing an additional 3,164,350 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.