Elanco Animal Health (NYSE:ELAN – Get Rating) announced its earnings results on Monday. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.25 by $0.11, MarketWatch Earnings reports. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a negative net margin of 7.65% and a positive return on equity of 6.61%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. Elanco Animal Health updated its Q3 guidance to $0.12-0.18 EPS and its FY22 guidance to $1.06-1.13 EPS.
Elanco Animal Health Price Performance
NYSE:ELAN traded up $0.47 during trading hours on Monday, reaching $19.91. The company’s stock had a trading volume of 10,616,476 shares, compared to its average volume of 4,683,532. Elanco Animal Health has a one year low of $18.64 and a one year high of $35.00. The business’s 50-day moving average is $20.98 and its 200-day moving average is $24.00. The company has a current ratio of 2.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.80.
Insider Buying and Selling
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In other news, Director R David Hoover purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was bought at an average cost of $23.33 per share, for a total transaction of $233,300.00. Following the completion of the acquisition, the director now directly owns 125,000 shares of the company’s stock, valued at $2,916,250. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.40% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Elanco Animal Health
Several hedge funds have recently made changes to their positions in ELAN. APG Asset Management N.V. lifted its stake in Elanco Animal Health by 19.7% during the first quarter. APG Asset Management N.V. now owns 18,800 shares of the company’s stock worth $441,000 after purchasing an additional 3,100 shares during the period. US Bancorp DE increased its holdings in shares of Elanco Animal Health by 17.5% in the first quarter. US Bancorp DE now owns 16,263 shares of the company’s stock valued at $425,000 after purchasing an additional 2,419 shares in the last quarter. Ethic Inc. increased its holdings in shares of Elanco Animal Health by 103.5% in the first quarter. Ethic Inc. now owns 15,941 shares of the company’s stock valued at $416,000 after purchasing an additional 8,106 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Elanco Animal Health in the first quarter valued at approximately $333,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Elanco Animal Health by 19.9% in the first quarter. Geneos Wealth Management Inc. now owns 11,877 shares of the company’s stock valued at $309,000 after purchasing an additional 1,972 shares in the last quarter.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. The Goldman Sachs Group cut shares of Elanco Animal Health from a “buy” rating to a “sell” rating and decreased their price target for the stock from $32.00 to $19.00 in a report on Thursday, July 21st. Piper Sandler assumed coverage on shares of Elanco Animal Health in a report on Monday, July 11th. They set a “neutral” rating and a $22.00 price target for the company. Morgan Stanley decreased their price target on shares of Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a report on Tuesday, May 17th. Finally, Stifel Nicolaus cut their price objective on shares of Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, June 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.40.
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.
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