Elanco Animal Health (NYSE:ELAN) Shares Gap Down to $17.97

Elanco Animal Health Incorporated (NYSE:ELAN)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $17.97, but opened at $16.06. Elanco Animal Health shares last traded at $14.75, with a volume of 869,925 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ELAN. Barclays lifted their price objective on Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Piper Sandler reissued a “neutral” rating and set a $19.00 price target (up previously from $18.00) on shares of Elanco Animal Health in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.29.

Elanco Animal Health Stock Performance

The stock has a 50-day simple moving average of $16.39 and a 200-day simple moving average of $15.67. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. The stock has a market cap of $7.07 billion, a PE ratio of -5.57, a P/E/G ratio of 1.73 and a beta of 1.45.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. Equities analysts predict that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Insider Transactions at Elanco Animal Health

In related news, Director William F. Doyle bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $16.98 per share, with a total value of $254,700.00. Following the completion of the transaction, the director now directly owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Primecap Management Co. CA lifted its stake in shares of Elanco Animal Health by 2.9% in the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after acquiring an additional 1,431,665 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 acquiring an additional 467,196 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Elanco Animal Health by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after acquiring an additional 852,281 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Elanco Animal Health by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock valued at $224,920,000 after buying an additional 3,816,514 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in Elanco Animal Health by 1.4% during the first quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock valued at $173,239,000 after buying an additional 143,326 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.