Elanco Animal Health (NYSE:ELAN) Shares Gap Down to $14.65

Elanco Animal Health Incorporated (NYSE:ELAN) shares gapped down prior to trading on Thursday . The stock had previously closed at $14.65, but opened at $14.34. Elanco Animal Health shares last traded at $14.32, with a volume of 194,073 shares traded.

Analyst Ratings Changes

ELAN has been the subject of a number of recent research reports. Barclays decreased their price target 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, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday. Piper Sandler decreased their price objective on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 1st. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $15.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.29.

Elanco Animal Health Price Performance

The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The stock has a market cap of $6.95 billion, a PE ratio of -5.31, a P/E/G ratio of 1.44 and a beta of 1.40. The business has a 50 day moving average price of $13.95 and a two-hundred day moving average price of $15.17.

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

Insider Buying and Selling at Elanco Animal Health

In other news, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The transaction 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 bought 100,000 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at $1,886,450. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, 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 corporate insiders.

Hedge Funds Weigh In On Elanco Animal Health

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Elanco Animal Health during the first quarter valued at approximately $1,226,000. Vanguard Group Inc. increased its holdings 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 worth $737,083,000 after purchasing an additional 467,196 shares during the period. Bank of Nova Scotia purchased a new stake in shares of Elanco Animal Health in the fourth quarter worth $4,004,000. Wolf Hill Capital Management LP bought a new stake in Elanco Animal Health during the fourth quarter valued at $20,683,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Elanco Animal Health during the first quarter worth about $4,956,000. 97.48% of the stock is owned by institutional investors.

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.