Elanco Animal Health (NYSE:ELAN) Trading 10.7% Higher Following Better-Than-Expected Earnings

Elanco Animal Health Incorporated (NYSE:ELAN)’s share price rose 10.7% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $14.39 and last traded at $14.23. Approximately 908,720 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,746,562 shares. The stock had previously closed at $12.86.

The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 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 down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share.

Wall Street Analyst Weigh In

ELAN has been the topic of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Barclays increased their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Elanco Animal Health presently has a consensus rating of “Hold” and a consensus price target of $17.14.

Insider Activity

In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 100,000 shares of Elanco Animal Health stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Michael J. Harrington bought 3,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was bought 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 in the company, valued at $1,204,245.90. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the purchase, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Elanco Animal Health

Institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its holdings in Elanco Animal Health by 337.7% during the 2nd 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 Wealth Partners LLC acquired a new position in shares of Elanco Animal Health in the third quarter valued at about $29,000. nVerses Capital LLC acquired a new position in shares of Elanco Animal Health in the second quarter valued at about $32,000. ORG Partners LLC bought a new position in Elanco Animal Health during the second quarter worth about $31,000. Finally, AM Squared Ltd acquired a new stake in Elanco Animal Health in the 3rd quarter worth about $34,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Down 3.1 %

The stock’s fifty day simple moving average is $13.93 and its 200-day simple moving average is $14.72. The stock has a market cap of $6.95 billion, a P/E ratio of -5.51, a P/E/G ratio of 1.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93.

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.