Elanco Animal Health (NYSE:ELAN) Short Interest Update

Elanco Animal Health (NYSE:ELAN) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 13,470,000 shares, a growth of 11.2% from the December 15th total of 12,110,000 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,770,000 shares, the short-interest ratio is presently 3.6 days.

Shares of NYSE ELAN traded down $0.35 during trading hours on Thursday, hitting $30.54. 28,168 shares of the company’s stock were exchanged, compared to its average volume of 4,773,327. Elanco Animal Health has a 1-year low of $25.25 and a 1-year high of $35.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.12 and a quick ratio of 1.67. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.76 and a beta of 0.74. The company’s 50-day moving average price is $28.40 and its 200-day moving average price is $28.76.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. Elanco Animal Health had a return on equity of 7.79% and a net margin of 3.04%. The business had revenue of $771.30 million during the quarter, compared to analysts’ expectations of $765.85 million. During the same quarter in the previous year, the firm earned $0.29 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Elanco Animal Health will post 1.06 earnings per share for the current year.

In other news, Director John P. Bilbrey acquired 3,766 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of $26.58 per share, with a total value of $100,100.28. Following the purchase, the director now owns 2,783 shares of the company’s stock, valued at $73,972.14. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. New England Research & Management Inc. raised its holdings in Elanco Animal Health by 11.1% in the 4th quarter. New England Research & Management Inc. now owns 35,100 shares of the company’s stock valued at $1,034,000 after acquiring an additional 3,500 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Elanco Animal Health in the 4th quarter valued at approximately $8,844,000. First Hawaiian Bank raised its holdings in Elanco Animal Health by 20.4% in the 4th quarter. First Hawaiian Bank now owns 10,202 shares of the company’s stock valued at $300,000 after acquiring an additional 1,732 shares in the last quarter. DNB Asset Management AS raised its holdings in Elanco Animal Health by 40.2% in the 4th quarter. DNB Asset Management AS now owns 50,269 shares of the company’s stock valued at $1,480,000 after acquiring an additional 14,414 shares in the last quarter. Finally, Institutional & Family Asset Management LLC acquired a new position in Elanco Animal Health in the 3rd quarter valued at approximately $28,000. 98.58% of the stock is owned by hedge funds and other institutional investors.

ELAN has been the topic of a number of research reports. Morgan Stanley raised Elanco Animal Health from an “equal” rating to an “equal weight” rating and dropped their price objective for the stock from $34.00 to $32.00 in a research note on Thursday, November 7th. Zacks Investment Research downgraded Elanco Animal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. UBS Group dropped their price objective on Elanco Animal Health from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Cleveland Research reaffirmed a “hold” rating on shares of Elanco Animal Health in a research report on Thursday, September 26th. Finally, Bank of America upgraded Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Elanco Animal Health has an average rating of “Hold” and an average price target of $33.24.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.

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