Insider Buying: Elanco Animal Health Incorporated (NYSE:ELAN) Director Buys 3,500 Shares of Stock

Elanco Animal Health Incorporated (NYSE:ELAN) Director Michael J. Harrington acquired 3,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $14.85 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Elanco Animal Health Trading Down 0.5 %

NYSE:ELAN traded down $0.07 during trading hours on Monday, reaching $14.50. 3,187,982 shares of the company were exchanged, compared to its average volume of 4,842,229. Elanco Animal Health Incorporated has a 52-week low of $8.52 and a 52-week high of $18.80. The stock has a 50 day simple moving average of $14.26 and a 200 day simple moving average of $15.32. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of -5.49, a PEG ratio of 1.27 and a beta of 1.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data 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 5.98% and a negative net margin of 29.83%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $0.18 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts predict that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

Institutional Trading of Elanco Animal Health

Several large investors have recently added to or reduced their stakes in ELAN. Benjamin F. Edwards & Company Inc. grew its position in 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 valued at $26,000 after acquiring an additional 1,361 shares in the last quarter. ORG Partners LLC purchased a new stake in Elanco Animal Health during the 2nd quarter worth $31,000. nVerses Capital LLC purchased a new stake in Elanco Animal Health during the 2nd quarter worth $32,000. Jones Financial Companies Lllp acquired a new position in Elanco Animal Health in the 4th quarter worth $37,000. Finally, Quarry LP acquired a new stake in shares of Elanco Animal Health during the second quarter valued at about $40,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ELAN. Piper Sandler cut their price target 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. Barclays dropped their target price on 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.57.

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.