Elanco Animal Health (NYSE:ELAN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Elanco Animal Health (NYSE:ELAN) posted its quarterly earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01, Briefing.com reports. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business earned $0.18 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year.

Elanco Animal Health Price Performance

NYSE ELAN traded down $0.43 during trading hours on Friday, reaching $14.07. The company had a trading volume of 6,323,568 shares, compared to its average volume of 4,403,132. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $13.93 and a 200 day moving average of $14.72. Elanco Animal Health has a 1-year low of $10.19 and a 1-year high of $18.80.

Insider Buying and Selling at Elanco Animal Health

In related news, CEO Jeffrey N. Simmons acquired 100,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. The trade was a 200.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jeffrey N. Simmons acquired 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the purchase, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. This represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Harrington bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the purchase, the director now owns 81,094 shares in the company, valued at $1,204,245.90. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ELAN shares. Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Barclays upped their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and an average price target of $17.14.

About Elanco Animal Health

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.