Elanco Animal Health (NYSE:ELAN) Sees Large Volume Increase

Elanco Animal Health Incorporated (NYSE:ELAN) shares saw an uptick in trading volume on Friday . 3,780,042 shares traded hands during mid-day trading, a decline of 18% from the previous session’s volume of 4,590,979 shares.The stock last traded at $14.95 and had previously closed at $14.27.

Analyst Ratings Changes

ELAN has been the subject of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $19.00 price objective (up previously from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. Barclays dropped their price objective on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Elanco Animal Health has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Elanco Animal Health Stock Performance

The stock’s 50-day moving average is $16.40 and its 200-day moving average is $15.66. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of -5.67, a P/E/G ratio of 1.74 and a beta of 1.45. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. Elanco Animal Health’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. On average, analysts expect that Elanco Animal Health Incorporated will post 0.93 EPS for the current year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director William F. Doyle bought 15,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the purchase, the director now owns 76,330 shares in the company, valued at approximately $1,296,083.40. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elanco Animal Health

Large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new stake in Elanco Animal Health in the fourth quarter worth $37,000. Global Financial Private Client LLC acquired a new stake in Elanco Animal Health in the first quarter worth $72,000. Tower Research Capital LLC TRC increased its holdings in shares of Elanco Animal Health by 169.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock valued at $93,000 after purchasing an additional 3,906 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Elanco Animal Health during the third quarter valued at $95,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Elanco Animal Health during the first quarter valued at $167,000. 97.48% of the stock is owned by institutional investors and hedge funds.

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.