Elanco Animal Health Incorporated (NYSE:ELAN) Short Interest Up 10.1% in August

Elanco Animal Health Incorporated (NYSE:ELAN) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 13,300,000 shares, a growth of 10.1% from the August 15th total of 12,080,000 shares. Based on an average trading volume of 5,250,000 shares, the days-to-cover ratio is presently 2.5 days.

Insider Activity

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

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors have recently bought and sold shares of ELAN. Victory Capital Management Inc. raised its stake in shares of Elanco Animal Health by 22.2% during the 4th quarter. Victory Capital Management Inc. now owns 65,512 shares of the company’s stock valued at $976,000 after buying an additional 11,910 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Elanco Animal Health during the 4th quarter worth approximately $913,000. ING Groep NV purchased a new position in shares of Elanco Animal Health during the 4th quarter valued at approximately $1,062,000. Norges Bank acquired a new position in shares of Elanco Animal Health in the 4th quarter valued at $62,510,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Elanco Animal Health during the fourth quarter worth $1,991,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Performance

Shares of ELAN traded up $0.36 during trading hours on Wednesday, reaching $14.65. 4,287,707 shares of the company traded hands, compared to its average volume of 4,736,817. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. The business has a fifty day moving average price of $13.89 and a 200-day moving average price of $15.17. Elanco Animal Health has a 12-month low of $8.52 and a 12-month high of $18.80. The stock has a market capitalization of $7.24 billion, a P/E ratio of -5.53, a P/E/G ratio of 1.44 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ELAN has been the subject of a number of recent research reports. Piper Sandler reduced their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Barclays decreased their target price on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Moderate Buy” and a consensus target price of $17.57.

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.