Elanco Animal Health Incorporated (NYSE:ELAN) sees surge in short-term interest

Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) saw significant growth in short-term interest in the month of October. As of October 15, there were short interests totaling 12,970,000 shares, a growth of 16.1% from the total of 11,170,000 shares as of September 30. Currently, 2.8% of the company’s shares are sold short. Based on an average daily volume of 7,110,000 shares, the short interest rate is currently 1.8 days.

Changes to analyst ratings

A number of research companies have recently commented on ELAN. Piper Sandler cut her price target on Elanco Animal Health shares from $22.00 to $21.00 and set a “neutral” rating for the company in a Tuesday, August 16 research note. Morgan Stanley cut its price target on shares of Elanco Animal Health from $22.00 to $21.00 and set an “equal weight” rating for the company in a Friday, Oct. 7 research note. Barclays cut its price target on shares of Elanco Animal Health from $32.00 to $18.00 and set an “equal weight” rating for the company in a Monday, September 12 research note. TheStreet upgraded shares of Elanco Animal Health from a “c-” rating to a “d+” rating in a Tuesday, October 4, research note. Finally, Goldman Sachs Group cut Elanco Animal Health shares from a “buy” rating to a “sell” rating and reduced its target price for the stock from $32.00 to $19.00 in a research note from Thursday, July 21. One research analyst rated the stock with a sell rating and five issued the company a hold rating. According to MarketBeat.com, Elanco Animal Health has a consensus rating of “Hold” and an average price target of $20.17.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the company in a transaction that took place on Friday, September 9. The stock was purchased at an average price of $15.18 per share, for a total transaction of $303,600.00. Following completion of the transaction, the director now directly owns 145,000 shares of the company, valued at approximately $2,201,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Separately, insider Rajeev A. Modi acquired 6,700 shares of the company in a trade on Friday, September 9. The stock was purchased at an average price of $14.90 per share, with a total value of $99,830.00. Following the completion of the acquisition, the insider now owns 41,157 shares of the company, valued at $613,239.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Director R David Hoover acquired 20,000 shares of the company in a transaction on Friday, September 9. The shares were purchased at an average cost of $15.18 per share, with a total value of $303,600.00. Following the acquisition, the director now directly owns 145,000 shares of the company, valued at approximately $2,201,100. Disclosure of this purchase can be found here. Insiders have acquired 56,700 shares of the company worth $839,630 in the past three months. Insiders of the company own 6.40% of the shares of the company.

Hedge funds weigh on Elanco Animal Health

Institutional investors and hedge funds have recently been buying and selling shares of the company. IFM Investors Pty Ltd increased its stake in shares of Elanco Animal Health by 16.4% in the 1st quarter. IFM Investors Pty Ltd now owns 61,294 shares in the company worth $1,599,000 after acquiring an additional 8,624 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in Elanco Animal Health by 5.7% in the first quarter. Douglas Lane & Associates LLC now owns 2,495,521 shares of the company worth $65,108,000 after purchasing an additional 135,410 shares during the period. Stoneridge Investment Partners LLC increased its stake in Elanco Animal Health by 41.8% during the 1st quarter. Stoneridge Investment Partners LLC now owns 37,495 shares of the company worth $978,000 after purchasing an additional 11,050 shares during the period. Machina Capital SAS acquired a new stake in Elanco Animal Health during the 1st quarter for a value of approximately $246,000. Finally, Vestmark Advisory Solutions Inc. increased its stake in Elanco Animal Health by 12.3% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 135,797 shares of the company worth $3,543,000 after purchasing an additional 14,918 shares during the period. 98.15% of the shares are currently held by institutional investors and hedge funds.

Elanco Animal Health Price Performance

NYSE ELAN traded at $0.46 during Friday trading hours, hitting $13.52. 5,649,507 shares of the company have been traded, compared to its average volume of 6,764,477. The company has a leverage ratio of 0.84, a current ratio of 2.47 and a quick ratio of 1.47 . The company has a market capitalization of $6.41 billion, a PE ratio of -38.63, a PEG ratio of 1.34 and a beta of 0.92. The company’s 50-day moving average is $13.74 and its 200-day moving average is $19.15. Elanco Animal Health has a 52 week minimum of $11.34 and a 52 week maximum of $35.00.

Elanco Animal Health (NYSE:ELAN – Get Rating) last released its results on Monday, August 8. The company reported earnings per share of $0.36 for the quarter, beating the consensus estimate of $0.26 by $0.10. The company posted revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Elanco Animal Health recorded a negative net margin of 3.77% and a positive return on equity of 7.40%. Elanco Animal Health revenue decreased 8.0% year-over-year. During the same period a year earlier, the company posted EPS of $0.28. Equity analysts expect Elanco Animal Health to post EPS of 1.08 for the current fiscal year.

About Elanco Animal Health

(Get an evaluation)

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures and markets pet and farm animal products. It offers pet disease prevention products, such as parasiticides and vaccines that protect pets against worms, fleas and ticks under the Seresto, Advantage, Advantix and Advocate brand names; companion animal health therapies for pain, osteoarthritis, ear infections, cardiovascular and dermatological indications in dogs and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides and other products for 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.

Read more

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Elanco Animal Health, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Elanco Animal Health was not on the list.

While Elanco Animal Health currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.