Elanco Animal Health (NYSE:ELAN) Shares Down 3.5%

Shares of Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) were down 3.5% on Friday . The stock traded as low as $14.45 and last traded at $14.54. Approximately 286,777 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 4,781,891 shares. The stock had previously closed at $15.07.

Analysts Set New Price Targets

A number of brokerages have commented on ELAN. Barclays decreased their price objective on Elanco Animal Health from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Friday, June 28th. Morgan Stanley lowered Elanco Animal Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $17.00 to $15.00 in a research report on Thursday. Stifel Nicolaus restated a "buy" rating and set a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday. Finally, Piper Sandler lowered their price target on shares of 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $17.29.

Elanco Animal Health Stock Down 6.6 %

The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $6.95 billion, a P/E ratio of -5.37, a P/E/G ratio of 1.44 and a beta of 1.40. The firm has a fifty day simple moving average of $13.95 and a 200-day simple moving average of $15.17.

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

Insider Buying and Selling at Elanco Animal Health

In other news, Director Michael J. Harrington bought 3,500 shares of the business's stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the purchase, the director now owns 81,094 shares of the company's stock, valued at approximately $1,204,245.90. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares in the company, valued at $1,204,245.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company's stock.

Institutional Trading of Elanco Animal Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELAN. Sanctuary Advisors LLC bought a new stake in Elanco Animal Health in the second quarter valued at approximately $781,000. Dana Investment Advisors Inc. raised its stake in Elanco Animal Health by 6.2% in the 2nd quarter. Dana Investment Advisors Inc. now owns 252,019 shares of the company's stock valued at $3,637,000 after acquiring an additional 14,653 shares during the period. Truist Financial Corp lifted its holdings in Elanco Animal Health by 47.7% during the 2nd quarter. Truist Financial Corp now owns 62,964 shares of the company's stock valued at $909,000 after purchasing an additional 20,341 shares during the last quarter. Brandes Investment Partners LP boosted its position in Elanco Animal Health by 1.3% during the second quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company's stock worth $42,445,000 after purchasing an additional 36,944 shares during the period. Finally, Quarry LP acquired a new position in shares of Elanco Animal Health in the second quarter valued at $40,000. 97.48% of the stock is owned by institutional investors.

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.