Elanco Animal Health Incorporated (NYSE:ELAN) Director Purchases $254,700.00 in Stock

Elanco Animal Health Incorporated (NYSE:ELANGet Free Report) Director William F. Doyle purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the purchase, the director now directly owns 76,330 shares in the company, valued at $1,296,083.40. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Elanco Animal Health Trading Down 2.6 %

Shares of NYSE ELAN traded down $0.44 during midday trading on Thursday, hitting $16.49. 3,275,993 shares of the stock traded hands, compared to its average volume of 4,514,905. The firm has a 50-day moving average of $15.17 and a two-hundred day moving average of $14.60. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. Elanco Animal Health Incorporated has a one year low of $7.88 and a one year high of $17.43.

Elanco Animal Health (NYSE:ELANGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. As a group, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently modified their holdings of ELAN. Teacher Retirement System of Texas lifted its position in Elanco Animal Health by 122.8% during the third quarter. Teacher Retirement System of Texas now owns 137,701 shares of the company’s stock valued at $1,548,000 after purchasing an additional 75,889 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Elanco Animal Health by 5.0% in the third quarter. Principal Financial Group Inc. now owns 101,082 shares of the company’s stock worth $1,136,000 after purchasing an additional 4,783 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Elanco Animal Health by 4.8% in the third quarter. California Public Employees Retirement System now owns 925,466 shares of the company’s stock worth $10,402,000 after purchasing an additional 42,170 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Elanco Animal Health by 3.3% in the third quarter. Private Advisor Group LLC now owns 134,902 shares of the company’s stock worth $1,516,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of Elanco Animal Health in the third quarter worth about $482,000. 97.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ELAN. The Goldman Sachs Group upped their price target on Elanco Animal Health from $12.50 to $14.00 and gave the stock a “sell” rating in a research note on Tuesday, February 27th. TheStreet upgraded Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. Barclays increased their target price on Elanco Animal Health from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Piper Sandler reiterated a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. Finally, Morgan Stanley increased their target price on Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.29.

Check Out Our Latest Research Report on ELAN

About Elanco Animal Health

(Get Free Report)

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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