Traders Sell Elanco Animal Health (ELAN) on Strength (ELAN)

Traders sold shares of Elanco Animal Health (NASDAQ:ELAN) on strength during trading on Friday. $49.63 million flowed into the stock on the tick-up and $463.62 million flowed out of the stock on the tick-down, for a money net flow of $413.99 million out of the stock. Of all equities tracked, Elanco Animal Health had the 10th highest net out-flow for the day. Elanco Animal Health traded up $0.33 for the day and closed at $30.64

A number of equities research analysts recently commented on ELAN shares. Credit Suisse Group reiterated a “hold” rating and issued a $36.00 price objective on shares of Elanco Animal Health in a report on Monday, December 17th. Zacks Investment Research upgraded Elanco Animal Health from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Monday, December 17th. BMO Capital Markets dropped their price objective on Elanco Animal Health from $37.00 to $32.00 and set a “market perform” rating for the company in a report on Wednesday, December 19th. They noted that the move was a valuation call. Argus started coverage on Elanco Animal Health in a report on Tuesday, January 15th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, UBS Group started coverage on Elanco Animal Health in a report on Wednesday, January 23rd. They issued a “sell” rating and a $29.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $33.48.

Elanco Animal Health (NASDAQ:ELAN) last released its quarterly earnings results on Wednesday, February 6th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The business had revenue of $799.30 million for the quarter, compared to analyst estimates of $804.07 million. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS.

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price of $31.43 per share, with a total value of $628,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Krensavage Asset Management LLC raised its position in shares of Elanco Animal Health by 0.5% during the fourth quarter. Krensavage Asset Management LLC now owns 200,967 shares of the company’s stock worth $6,336,000 after purchasing an additional 967 shares during the period. Focused Wealth Management Inc bought a new position in shares of Elanco Animal Health during the fourth quarter worth about $32,000. First Hawaiian Bank bought a new position in shares of Elanco Animal Health during the fourth quarter worth about $35,000. Citigroup Inc. grew its holdings in shares of Elanco Animal Health by 28.2% during the fourth quarter. Citigroup Inc. now owns 5,389 shares of the company’s stock worth $169,000 after buying an additional 1,187 shares in the last quarter. Finally, American International Group Inc. bought a new position in shares of Elanco Animal Health during the fourth quarter worth about $48,000.

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Elanco Animal Health Company Profile (NASDAQ:ELAN)

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Further Reading: Systematic Risk

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