Short Interest in Elanco Animal Health Incorporated (NYSE:ELAN) Rises By 24.5%

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 15,520,000 shares, an increase of 24.5% from the March 31st total of 12,470,000 shares. Based on an average trading volume of 4,160,000 shares, the short-interest ratio is presently 3.7 days.

Elanco Animal Health Stock Down 3.0 %

Shares of Elanco Animal Health stock traded down $0.41 during midday trading on Tuesday, reaching $13.16. 4,154,748 shares of the company's stock traded hands, compared to its average volume of 4,381,364. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75. Elanco Animal Health has a 52 week low of $7.88 and a 52 week high of $16.88. The company's 50 day simple moving average is $15.31 and its 200 day simple moving average is $13.85. The company has a market cap of $6.50 billion, a price-to-earnings ratio of -5.26, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the company earned $0.19 EPS. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Elanco Animal Health

In other news, Director R David Hoover purchased 20,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the transaction, the director now owns 185,000 shares in the company, valued at $2,985,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in Elanco Animal Health in the fourth quarter worth $37,000. Tower Research Capital LLC TRC grew its holdings in shares of Elanco Animal Health by 169.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company's stock worth $93,000 after purchasing an additional 3,906 shares during the last quarter. Acadian Asset Management LLC bought a new position in Elanco Animal Health during the 3rd quarter valued at about $95,000. C M Bidwell & Associates Ltd. bought a new position in Elanco Animal Health during the 3rd quarter valued at about $129,000. Finally, Innovis Asset Management LLC acquired a new position in Elanco Animal Health in the third quarter valued at about $144,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Wall Street Analyst Weigh In

ELAN has been the topic of several recent research reports. TheStreet upgraded shares of Elanco Animal Health from a "d+" rating to a "c-" rating in a research report on Friday, February 23rd. Morgan Stanley lifted their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Stifel Nicolaus upgraded Elanco Animal Health from a "hold" rating to a "buy" rating and lifted their price target for the company from $13.00 to $20.00 in a report on Friday, January 5th. Barclays raised their price objective on Elanco Animal Health from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their price target on shares of Elanco Animal Health from $12.50 to $14.00 and gave the stock a "sell" rating in a research report on Tuesday, February 27th. One 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.71.

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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