Elanco Animal Health (NYSE:ELAN) Trading 6% Higher on Insider Buying Activity

Elanco Animal Health Incorporated (NYSE:ELANGet Rating)’s share price traded up 6% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $15.38 and last traded at $14.89. 138,826 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 7,320,481 shares. The stock had previously closed at $14.05.

Specifically, Director R David Hoover bought 20,000 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was purchased at an average price of $15.18 per share, for a total transaction of $303,600.00. Following the transaction, the director now owns 145,000 shares in the company, valued at $2,201,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director R David Hoover purchased 20,000 shares of Elanco Animal Health stock in a transaction dated Friday, September 9th. The stock was bought at an average cost of $15.18 per share, with a total value of $303,600.00. Following the purchase, the director now owns 145,000 shares in the company, valued at approximately $2,201,100. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey N. Simmons purchased 30,000 shares of Elanco Animal Health stock in a transaction dated Friday, September 9th. The stock was bought at an average cost of $14.54 per share, with a total value of $436,200.00. Following the completion of the purchase, the chief executive officer now owns 30,000 shares in the company, valued at approximately $436,200. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 56,700 shares of company stock worth $839,630. Insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ELAN has been the subject of several recent analyst reports. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $37.00 to $22.00 in a report on Thursday, August 18th. Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, June 24th. Piper Sandler dropped their target price on shares of Elanco Animal Health from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, August 16th. The Goldman Sachs Group cut shares of Elanco Animal Health from a “buy” rating to a “sell” rating and lowered their price objective for the company from $32.00 to $19.00 in a research report on Thursday, July 21st. Finally, JPMorgan Chase & Co. cut shares of Elanco Animal Health from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $24.00 in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.33.

Elanco Animal Health Stock Up 6.8 %

The firm’s 50 day moving average is $18.51 and its two-hundred day moving average is $22.49. The firm has a market cap of $7.11 billion, a P/E ratio of -42.86, a price-to-earnings-growth ratio of 1.42 and a beta of 0.87. The company has a current ratio of 2.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.84.

Elanco Animal Health (NYSE:ELANGet Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. Elanco Animal Health had a negative net margin of 3.77% and a positive return on equity of 7.40%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. As a group, research analysts anticipate that Elanco Animal Health Incorporated will post 1.09 EPS for the current fiscal year.

Institutional Trading of Elanco Animal Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dodge & Cox increased its holdings in shares of Elanco Animal Health by 72.1% in the second quarter. Dodge & Cox now owns 49,206,190 shares of the company’s stock valued at $965,918,000 after purchasing an additional 20,618,487 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Elanco Animal Health by 110.8% in the second quarter. Ontario Teachers Pension Plan Board now owns 6,726,521 shares of the company’s stock valued at $132,042,000 after purchasing an additional 3,535,308 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Elanco Animal Health by 141.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,909,411 shares of the company’s stock valued at $110,949,000 after acquiring an additional 2,287,366 shares during the period. BlackRock Inc. lifted its position in Elanco Animal Health by 6.6% during the first quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock worth $684,027,000 after purchasing an additional 1,631,045 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Elanco Animal Health by 14.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,105,226 shares of the company’s stock worth $315,825,000 after purchasing an additional 1,541,163 shares during the period. 98.15% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Company Profile

(Get Rating)

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.

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