Elanco Animal Health (NYSE:ELAN) Releases Earnings Results, Beats Expectations By $0.01 EPS

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

Elanco Animal Health Stock Performance

ELAN traded down $0.43 during trading hours on Friday, reaching $14.07. The company’s stock had a trading volume of 6,249,667 shares, compared to its average volume of 4,791,907. The company’s 50-day moving average is $13.95 and its 200-day moving average is $14.71. Elanco Animal Health has a 52 week low of $10.19 and a 52 week high of $18.80. The firm has a market cap of $6.96 billion, a PE ratio of -5.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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

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.