Elanco Animal Health (NASDAQ:ELAN) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,608,639 shares, a growth of 64.8% from the October 15th total of 1,583,326 shares. Based on an average daily trading volume, of 1,149,589 shares, the days-to-cover ratio is presently 2.3 days. Approximately 3.6% of the shares of the company are sold short.

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the firm’s stock in a transaction on Monday, September 24th. The stock was bought at an average cost of $24.00 per share, with a total value of $240,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey N. Simmons acquired 22,000 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were bought at an average cost of $24.00 per share, with a total value of $528,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 33,000 shares of company stock worth $792,000 in the last 90 days.

Several institutional investors and hedge funds have recently bought and sold shares of ELAN. Tower Research Capital LLC TRC acquired a new position in Elanco Animal Health during the third quarter worth $224,000. United Services Automobile Association acquired a new position in Elanco Animal Health during the third quarter worth $234,000. Rockefeller Capital Management L.P. acquired a new position in Elanco Animal Health during the third quarter worth $274,000. LPL Financial LLC acquired a new position in Elanco Animal Health during the third quarter worth $313,000. Finally, Partner Investment Management L.P. acquired a new position in Elanco Animal Health during the third quarter worth $332,000.

A number of research firms have weighed in on ELAN. Gabelli began coverage on Elanco Animal Health in a research report on Wednesday, September 19th. They set a “buy” rating and a $32.00 price objective for the company. BMO Capital Markets increased their price objective on Elanco Animal Health from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 13th. JPMorgan Chase & Co. began coverage on Elanco Animal Health in a research report on Monday, October 15th. They set an “overweight” rating and a $38.00 price objective for the company. Cowen initiated coverage on Elanco Animal Health in a research report on Monday, October 15th. They set an “outperform” rating for the company. Finally, Citigroup initiated coverage on Elanco Animal Health in a report on Monday, October 15th. They issued a “buy” rating and a $37.00 price target for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $34.88.

Shares of ELAN traded up $0.97 during mid-day trading on Friday, hitting $33.57. The company’s stock had a trading volume of 1,087,228 shares, compared to its average volume of 1,533,614. Elanco Animal Health has a 1-year low of $30.10 and a 1-year high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $761.10 million during the quarter, compared to analyst estimates of $766.26 million. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share.

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About Elanco Animal Health

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