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

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) rose 1.9% during trading on Tuesday following insider buying activity. The company traded as high as $14.96 and last traded at $14.77. Approximately 217,531 shares traded hands during 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 acquired 3,500 shares of the 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 transaction, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Piper Sandler dropped 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.57.

Elanco Animal Health Trading Up 5.0 %

The stock has a market cap of $7.53 billion, a PE ratio of -5.75, a P/E/G ratio of 1.27 and a beta of 1.42. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average is $14.13 and its 200 day moving average is $15.31.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 29.83% and a positive return on equity of 5.98%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned $0.18 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, analysts predict that Elanco Animal Health Incorporated will post 0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares during the last quarter. ORG Partners LLC acquired a new stake in Elanco Animal Health during the second quarter worth about $31,000. nVerses Capital LLC purchased a new position in shares of Elanco Animal Health in the 2nd quarter worth about $32,000. Jones Financial Companies Lllp acquired a new position in shares of Elanco Animal Health in the 4th quarter valued at about $37,000. Finally, Quarry LP purchased a new stake in shares of Elanco Animal Health during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.