Short Interest in Elanco Animal Health Incorporated (NYSE:ELAN) Drops By 10.5%

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 12,080,000 shares, a decrease of 10.5% from the July 31st total of 13,500,000 shares. Based on an average daily volume of 5,370,000 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Piper Sandler reduced their target price on Elanco Animal Health from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, July 1st. Barclays lowered their target price on shares of Elanco Animal Health from $23.00 to $21.00 and set an "overweight" rating on the stock 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.57.

Elanco Animal Health Stock Up 1.2 %

Shares of ELAN stock traded up $0.18 during midday trading on Friday, reaching $15.47. 3,683,810 shares of the stock were exchanged, compared to its average volume of 5,069,261. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. Elanco Animal Health has a 1 year low of $8.52 and a 1 year high of $18.80. The firm has a market cap of $7.65 billion, a PE ratio of -5.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.42. The company's 50 day moving average is $13.96 and its two-hundred day moving average is $15.30.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities research analysts predict that Elanco Animal Health will post 0.91 EPS for the current year.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, CEO Jeffrey N. Simmons acquired 100,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jeffrey N. Simmons acquired 100,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares of the company's stock, valued at approximately $1,886,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Harrington bought 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 acquisition, the director now directly owns 81,094 shares in the company, valued at $1,204,245.90. The disclosure for this purchase can be found here. Insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On Elanco Animal Health

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

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.

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