Elanco Animal Health (NYSE:ELAN) Sees Large Volume Increase

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) saw unusually-high 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

ELAN has been the subject of several recent research reports. 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 cut their target price on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Elanco Animal Health Trading Up 1.1 %

The business has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $15.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.96 and a current ratio of 3.29. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of -5.67, a PEG ratio of 1.74 and a beta of 1.45.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, beating 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 firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director William F. Doyle bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the transaction, the director now directly owns 76,330 shares in the company, valued at $1,296,083.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Elanco Animal Health

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Capital Management LLC purchased a new stake in shares of Elanco Animal Health in the first quarter worth approximately $4,211,000. Cetera Advisors LLC purchased a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $213,000. Comerica Bank increased its position in shares of Elanco Animal Health by 272.6% during the first quarter. Comerica Bank now owns 11,716 shares of the company’s stock valued at $191,000 after acquiring an additional 8,572 shares during the last quarter. Tidal Investments LLC increased its position in shares of Elanco Animal Health by 34.6% during the first quarter. Tidal Investments LLC now owns 22,575 shares of the company’s stock valued at $368,000 after acquiring an additional 5,797 shares during the last quarter. Finally, Redwood Investment Management LLC purchased a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $1,512,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.