Stock Traders Buy High Volume of Call Options on Elanco Animal Health (NYSE:ELAN)

Elanco Animal Health Incorporated (NYSE:ELANGet Rating) was the target of some unusual options trading on Friday. Stock traders purchased 15,023 call options on the stock. This represents an increase of 496% compared to the average daily volume of 2,521 call options.

Insider Activity at Elanco Animal Health

In other news, insider Rajeev A. Modi purchased 6,700 shares of Elanco Animal Health stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average cost of $14.90 per share, for a total transaction of $99,830.00. Following the purchase, the insider now directly owns 41,157 shares of the company’s stock, valued at approximately $613,239.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jeffrey N. Simmons bought 30,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was purchased at an average cost of $14.54 per share, for a total transaction of $436,200.00. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at approximately $436,200. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rajeev A. Modi bought 6,700 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were bought at an average price of $14.90 per share, with a total value of $99,830.00. Following the completion of the transaction, the insider now owns 41,157 shares in the company, valued at approximately $613,239.30. The disclosure for this purchase can be found here. Insiders bought 56,700 shares of company stock worth $839,630 in the last ninety days. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elanco Animal Health

Institutional investors and hedge funds have recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at about $18,310,000. American Century Companies Inc. increased its stake in shares of Elanco Animal Health by 11.0% in the fourth quarter. American Century Companies Inc. now owns 28,822 shares of the company’s stock valued at $818,000 after buying an additional 2,859 shares during the period. ProShare Advisors LLC increased its stake in shares of Elanco Animal Health by 5.9% in the fourth quarter. ProShare Advisors LLC now owns 11,910 shares of the company’s stock valued at $338,000 after buying an additional 667 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Elanco Animal Health by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,645,122 shares of the company’s stock valued at $75,075,000 after buying an additional 180,282 shares during the period. Finally, UMB Bank N A MO acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at about $110,000. Institutional investors and hedge funds own 98.15% of the company’s stock.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $15.00 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.47 and a current ratio of 2.47. Elanco Animal Health has a 52 week low of $13.94 and a 52 week high of $35.00. The stock has a market capitalization 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 stock has a fifty day moving average of $18.51 and a 200-day moving average of $22.49.

Elanco Animal Health (NYSE:ELANGet Rating) last issued its earnings results on Monday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. Elanco Animal Health had a positive return on equity of 7.40% and a negative net margin of 3.77%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Elanco Animal Health will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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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