“A large number of short positions in Elanco Animal Health Incorporated (NYSE: ELAN) were closed during August, resulting in a fall in the overall number of short holdings. On August 15, there were 13,340,000 shares available for a short sale; as of August 31, there were 11,970,000 shares available for a short sale, which is a reduction of 10.3% from the amount of 13,340,000 shares available for a short sale on August 15. At this time, the days-to-cover ratio is at 2.0, and this number is derived from an average daily volume of trading that involves 5,890,000 shares. Short sales constitute 2.5% of the total number of company shares.
On Monday, August 8, Elanco Animal Health (NYSE: ELAN) released its earnings report, published the day after, on Sunday, August 7. The company announced earnings per share for the quarter of $0.36, which was $0.10 higher than the estimate provided by the market, which was $0.26. The revenue for the quarter was $1.18 billion, which was greater than the estimated $1.18 billion that industry professionals made as a consensus. 3.77 percent was the net margin that Elanco Animal Health achieved, and 7.40 percent was the company’s return on equity. The corporation’s revenue had an 8.0% decline compared to the prior fiscal year. The corporation made $0.28 per share during the same period as the previous year. According to experts on the stock market forecasts, Elanco Animal Health will generate $1.09 per share in 2018. The organization has obtained feedback from several highly qualified equity research specialists who have provided their points of view on the matter.
In a research note released on Monday, September 12, Barclays lowered their price objective on Elanco Animal Health from $32 to $18 and assigned the firm an “equal weight” rating. The memo, which was related to Elanco Animal Health and was disclosed, was also related to Elanco Animal Health. Stifel Nicolaus assigned a “hold” rating to Elanco Animal Health; consequently, the investment firm decreased its price objective for the company from $30.00 to $22.00 and published the report on Friday, June 24. Stifel Nicolaus’s decision to assign a “hold” rating to Elanco Animal Health The price objective for Elanco Animal Health was lowered from $22 to $21 in a research report that was issued on Tuesday, August 16, by Piper Sandler. In addition, the analyst assigned a “neutral” rating to the firm. JPMorgan Chase & Co. lowered their rating of Elanco Animal Health from “overweight” to “neutral” in a research report published on Tuesday, August 16.
The prior rating for Elanco Animal Health was “overweight.” In addition, they lowered the target price they had set for the company, which had previously been $28.00, down to $24.00. In addition, Morgan Stanley assigned Elanco Animal Health a rating of “equal weight” in a research report published on Thursday, August 18. This rating decreased from their prior rating of “overweight,” which was given to Elanco Animal Health. In addition, the target price for the company, which the company had earlier established at $37.00, was decreased to $22.00. Six equity research analysts suggest one should maintain the stock in their portfolio, while the other five suggest one should sell it. According to Bloomberg, the consensus recommendation for Elanco Animal Health shares is to “Hold” them, and the average price goal set for the business is $21.00.
At $14.75, trading on the NYSE ELAN got underway on Monday of that week. Over the past year, the price of Elanco Animal Health has fluctuated between $13.94 and $35.00. The price as of right now is 13.94 USD.
The ratio of current assets to total assets is 2.47, the ratio of quick assets to current assets is 1.47, and the ratio of total assets to current assets is 0.84. $17.98 is the company’s moving average price over the previous 50 days, and $21.98 is the company’s average price over the past 200 days. R. David Hoover, Director of Elanco Animal Health, recently purchased 20,000 shares of the company’s stock on September 9, which brings us to another recent development involving Elanco Animal Health. A total of $303,600.00 was spent on the acquisition of the stock. This equates to a price of $15.18 per share when calculated on an average basis. Following the successful completion of the acquisition, the director now owns 145,000 shares of the company’s stock. The total worth of these shares is approximately $2,201,100. An SEC filing that explains the transaction in greater detail has been made public and may be viewed on the website of the Securities and Exchange Commission (SEC).
On Friday, September 9, Chief Executive Officer Jeffrey N. Simmons purchased 30,000 shares of company stock. This is only one of the many recent occurrences. The total cost of the shares was calculated to be $436,200.00, which corresponds to a price of $14.54 for each share on average. Following the transaction’s successful conclusion, the company’s chief executive officer now directly owns 30,000 shares of the company’s stock, the total value of which is approximately $436,200. The Securities and Exchange Commission (SEC) keeps a legal file open to the public and can be read online. This file had information relevant to the transaction, which was discovered there. On September 9, R. David Hoover, a company director, bought 20,000 shares of the company’s stock. The transaction took place on a Friday. The money paid on purchasing shares came to a total of $303,600.00.
The price of each share comes out to $15.18 when this is considered. Following the conclusion of the transaction, the director now has direct ownership of 145,000 shares of the company’s stock. The total value of these shares is $2,201,100. You should look in this spot if you are looking for the disclosure that pertains to this transaction. Insiders of the company have purchased 56,700 shares during the most recent three months and ninety days, bringing the total value of their purchases to $839,630. The current percentage of the company’s stock held by insiders is 6.40 percent.
In the most recent few months, several hedge funds and other forms of institutional investors in this stock have experienced alterations in the portfolio composition of their holdings in this stock. In the last three months of 2018, Rafferty Asset Management LLC saw a 34.9% increase in the size of its holdings in Elanco Animal Health. Rafferty Asset Management LLC now directly owns 30,968 shares of the company, which has a value of $879,000. This was accomplished by purchasing an additional 8,010 shares during the fiscal quarter. JPMorgan Chase & Co. increased the amount of Elanco Animal Health stock owned by 78.9% during the fourth quarter. Following the acquisition of an additional 135,470 shares during the most recent fiscal quarter, JPMorgan Chase & Co. now holds 307,123 shares of the company’s stock in its portfolio. These shares have a value of $8,716,000 together. The company’s fourth quarter of operations achieved a 10.1% increase in the proportion of Elanco Animal Health stock that Abrdn plc owns.
After purchasing an additional 5,717 shares, the company became wholly owned. ABRDN plc acquired a direct ownership stake in 62,384 of the company’s shares during the most recent fiscal quarter. This interest is currently valued at $1,771,000. During the last three months of 2018, Bank of Montreal’s stakes in Elanco Animal Health were boosted by 300 percent. Bank of Montreal Can now hold 1,670,325 shares of the company’s stock following the acquisition of an additional 1,252,733 shares during the most recent quarter. The stock is now valued at $47,981,000. During the fourth quarter, Allianz Asset Management GmbH increased its holdings in Elanco Animal Health by purchasing an additional 20.9% of its shares. The plan was complete, and this was the last and most crucial item.
Allianz Asset Management GmbH now has 1,101,427 shares in the company and has purchased an additional 190,114 shares during the preceding quarter to bring their total purchase to 1,101,427. The value of these shares on the market as of right now is $31,258,000. The vast majority of the company’s equity is owned by various institutions, accounting for 98.15 percent of the total. “