Elanco Animal Health Incorporated (NYSE:ELAN) Short Interest Update

Elanco Animal Health Incorporated (NYSE:ELAN) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 11,520,000 shares, a decrease of 7.2% from the September 30th total of 12,420,000 shares. Based on an average daily trading volume, of 4,750,000 shares, the days-to-cover ratio is presently 2.4 days.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, the director now owns 81,094 shares in the company, valued at $1,204,245.90. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the purchase, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Harrington purchased 3,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Elanco Animal Health by 337.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Elanco Animal Health during the 3rd quarter worth approximately $29,000. ORG Partners LLC acquired a new position in Elanco Animal Health during the second quarter valued at approximately $31,000. nVerses Capital LLC bought a new stake in Elanco Animal Health during the second quarter worth $32,000. Finally, Quarry LP acquired a new stake in Elanco Animal Health in the second quarter valued at about $40,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Elanco Animal Health Stock Down 1.0 %

Shares of Elanco Animal Health stock traded down $0.13 on Thursday, reaching $12.65. 8,818,831 shares of the company were exchanged, compared to its average volume of 4,762,507. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -4.77, a PEG ratio of 1.32 and a beta of 1.40. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. Elanco Animal Health has a one year low of $8.59 and a one year high of $18.80. The company has a 50-day moving average of $14.19 and a 200 day moving average of $14.75.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.18 earnings per share. Elanco Animal Health’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities research analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

ELAN has been the topic of several analyst reports. Barclays cut their target price on Elanco Animal Health from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.00.

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.