Why Elanco Animal Health Inc (ELAN) Stock Could See Much Higher Prices Ahead

Elanco Animal Health Inc (NYSE: ELAN) is 7.18% higher on its value in year-to-date trading and has touched a low of $7.88 and a high of $16.08 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ELAN stock was last observed hovering at around $15.87 in the last trading session, with the day’s gains setting it 0.1%.

Currently trading at $15.97, the stock is 5.64% and 11.36% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.23 million and changing 0.63% at the moment leaves the stock 39.65% off its SMA200. ELAN registered 19.72% gain for a year compared to 6-month gain of 30.69%. The firm has a 50-day simple moving average (SMA 50) of $3.07 and a 200-day simple moving average (SMA200) of -$69.12.

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The stock witnessed a 5.00% loss in the last 1 month and extending the period to 3 months gives it a 47.19%, and is 8.42% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.99% over the week and 2.84% over the month.

Fwd P/E is 18.02. Profit margin for the company is -26.18%. Distance from 52-week low is 102.66% and -0.65% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.53%).

Elanco Animal Health Inc quarterly earnings per share for the current quarter are estimated at $0.11 with sales reaching $1B over the same period.The EPS is expected to shrink by -17.15% this year, but quarterly earnings will post -0.70% year-over-year. Quarterly sales are estimated to grow 1.40% in year-over-year returns.

Elanco Animal Health Inc (ELAN) Top Institutional Holders

499 institutions hold shares in Elanco Animal Health Inc (ELAN), with institutional investors hold 101.09% of the company’s shares. The shares outstanding are 492.80M, and float is at 486.02M with Short Float at 2.01%. Institutions hold 100.50% of the Float.

The top institutional shareholder in the company is Dodge & Cox Inc with over 84.62 million shares valued at $851.29 million. The investor’s holdings represent 17.18% of the ELAN Shares outstanding. As of Jun 29, 2023, the second largest holder is Primecap Management Company with 49.0 million shares valued at $492.9 million to account for 9.94% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 48.64 million shares representing 9.87% and valued at over $489.31 million, while Blackrock Inc. holds 5.51% of the shares totaling 27.16 million with a market value of $273.19 million.

Elanco Animal Health Inc (ELAN) Insider Activity

A total of 1 insider transactions have happened at Elanco Animal Health Inc (ELAN) in the last six months, with sales accounting for 1 and purchases happening 0 times. The most recent transaction is an insider purchase by HOOVER R DAVID ,the company’sDirector. SEC filings show that HOOVER R DAVID bought 5,000 shares of the company’s common stock on Mar 14 at a price of $9.55 per share for a total of $47750.0. Following the purchase, the insider now owns 0.17 million shares.

Elanco Animal Health Inc disclosed in a document filed with the SEC on Mar 13 that HOOVER R DAVID (Director) bought a total of 5,000 shares of the company’s common stock. The trade occurred on Mar 13 and was made at $9.46 per share for $47288.0. Following the transaction, the insider now directly holds 0.16 million shares of the ELAN stock.

Still, SEC filings show that on Mar 10, Simmons Jeffrey N (PRESIDENT, CEO AND DIRECTOR) acquired 15,000 shares at an average price of $9.60 for $0.14 million. The insider now directly holds 45,000 shares of Elanco Animal Health Inc (ELAN).