Elanco Animal Health (NYSE:ELAN) Trading Up 1.9% on Insider Buying Activity

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) rose 1.9% on Tuesday after an insider bought additional shares in the company. The company traded as high as $14.96 and last traded at $14.77. Approximately 217,531 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 4,814,201 shares. The stock had previously closed at $14.50.

Specifically, Director Michael J. Harrington purchased 3,500 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now directly owns 81,094 shares of the company's stock, valued at approximately $1,204,245.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

ELAN has been the subject of several research analyst reports. Barclays dropped 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. Piper Sandler reduced their target price on Elanco Animal Health from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, July 1st. One investment 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.57.

Elanco Animal Health Stock Performance

The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of -5.75, a P/E/G ratio of 1.27 and a beta of 1.42. The stock has a 50 day simple moving average of $14.19 and a 200 day simple moving average of $15.31. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elanco Animal Health

A number of hedge funds have recently made changes to their positions in ELAN. Benjamin F. Edwards & Company Inc. grew its position in Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company's stock valued at $26,000 after buying an additional 1,361 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Elanco Animal Health during the second quarter valued at approximately $32,000. ORG Partners LLC acquired a new position in shares of Elanco Animal Health during the second quarter valued at approximately $31,000. Jones Financial Companies Lllp bought a new stake in Elanco Animal Health during the fourth quarter worth approximately $37,000. Finally, Quarry LP acquired a new stake in Elanco Animal Health in the second quarter worth approximately $40,000. Institutional investors own 97.48% of the company's stock.

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.