Elanco Animal Health (NYSE:ELAN) Sees Large Growth in Short Interest

Elanco Animal Health (NYSE:ELAN) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 13,470,000 shares, an increase of 11.2% from the December 31st total of 12,110,000 shares. Based on an average daily volume of 3,900,000 shares, the short-interest ratio is currently 3.5 days. Currently, 3.6% of the company’s shares are short sold.

Several brokerages have recently commented on ELAN. Morgan Stanley raised Elanco Animal Health from an “equal” rating to an “equal weight” rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Thursday, November 7th. Zacks Investment Research lowered Elanco Animal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Raymond James began coverage on Elanco Animal Health in a research note on Thursday, January 9th. They set a “market perform” rating on the stock. TheStreet raised Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Tuesday, December 24th. Finally, Gabelli reissued a “buy” rating on shares of Elanco Animal Health in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.24.

In other Elanco Animal Health news, Director John P. Bilbrey purchased 3,766 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $26.58 per share, with a total value of $100,100.28. Following the purchase, the director now directly owns 2,783 shares in the company, valued at approximately $73,972.14. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ELAN. State Street Corp increased its holdings in Elanco Animal Health by 46.3% during the 3rd quarter. State Street Corp now owns 9,763,351 shares of the company’s stock worth $259,608,000 after purchasing an additional 3,087,565 shares during the period. Global Thematic Partners LLC purchased a new position in shares of Elanco Animal Health in the 4th quarter valued at about $36,821,000. BlackRock Inc. increased its holdings in shares of Elanco Animal Health by 4.7% in the 2nd quarter. BlackRock Inc. now owns 20,483,172 shares of the company’s stock valued at $692,331,000 after acquiring an additional 924,059 shares during the last quarter. Vantage Investment Partners LLC purchased a new position in shares of Elanco Animal Health in the 3rd quarter valued at about $21,126,000. Finally, Natixis purchased a new position in shares of Elanco Animal Health in the 2nd quarter valued at about $13,944,000. Institutional investors own 98.99% of the company’s stock.

ELAN opened at $31.72 on Friday. The stock’s 50-day moving average price is $29.54 and its 200 day moving average price is $28.55. Elanco Animal Health has a 12-month low of $25.25 and a 12-month high of $35.46. The company has a current ratio of 3.12, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 122.00, a PEG ratio of 2.99 and a beta of 0.74.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $771.30 million for the quarter, compared to analyst estimates of $765.85 million. During the same quarter in the prior year, the company earned $0.29 EPS. Elanco Animal Health’s revenue was up 1.3% on a year-over-year basis. On average, research analysts forecast that Elanco Animal Health will post 1.06 earnings per share for the current year.

About Elanco Animal Health

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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