Saturday, June 25, 2022

Buying Buzz: Elanco Animal Health Incorporated [ELAN] Director HOOVER R DAVID purchases 10,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Elanco Animal Health Incorporated shares valued at $233,269 were purchased by HOOVER R DAVID on May 20. At $23.33 per share, HOOVER R DAVID acquired 10,000 shares. The insider’s holdings grew to 125,000 shares worth approximately $2.49 million following the completion of this transaction.

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Also, BILBREY JOHN P purchased 10,000 shares, netting a total of over 220,284 in proceeds. Following the buying of shares at $22.03 each, the insider now holds 34,222 shares.

Before that, HOOVER R DAVID had added 5,000 shares to its account. In a trade valued at $145,000, the Director bought Elanco Animal Health Incorporated shares for $29.00 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $2.29 million.

As published in their initiating research note from Morgan Stanley on November 18, 2021, Elanco Animal Health Incorporated [ELAN] has been an Overweight and the price target has been revised to $40. This represents a 50.15% premium over Thursday’s closing price. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late October. Earlier on June 15, 2021, Cleveland Research upgraded its rating. Their new recommendation was “a Neutral” for ELAN stock which previously was a “an Underperform”.

Analyzing ELAN’s Price Performance

On Thursday, Elanco Animal Health Incorporated [NYSE: ELAN] plunged -0.35% to $19.94. The stock’s lowest price that day was $19.58, but it reached a high of $20.14 in the same session. During the last five days, there has been a drop of approximately -4.68%. Over the course of the year, Elanco Animal Health Incorporated shares have dropped approximately -29.74%. Shares of the company reached a 52-week high of $29.66 on 03/03/22 and a 52-week low of $19.56 on 06/22/22. A 50-day SMA is recorded $23.66, while a 200-day SMA reached $27.81. Nevertheless, trading volume fell to 5.26 million shares from 9.21 million shares the previous day.

Support And Resistance Levels for Elanco Animal Health Incorporated (ELAN)

According to the 24-hour chart, there is a support level at 19.63, which, if violated, would cause prices to drop to 19.33. In the upper region, resistance lies at 20.19. The next price resistance is at 20.45. RSI (Relative Strength Index) is 30.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.91, which suggests the price will decrease in the coming days. Percent R is at 92.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Elanco Animal Health Incorporated subject to short interest?

Stocks of Elanco Animal Health Incorporated saw a sharp steep in short interest on May 30, 2022 dropping by -1.21 million shares to 14.92 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 16.13 million shares. A decline of -8.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) decline to 2.62.

Which companies own the most shares of Elanco Animal Health Incorporated (ELAN)?

According to The Vanguard Group, Inc. filings, the company currently owns 40,567,808 shares, which is about 8.56% of the total ELAN shares outstanding. The investor’s shares have appreciated by 700,872 from its previous 13-F filing of 39866936.0 shares. With the completion of the buy transaction, T. Rowe Price Associates, Inc.’s stake is now worth $817,960,612. PRIMECAP Management Co. acquire a 2.07% interest valued at $729.59 million while Aristotle Capital Management LLC purchased a 203,795 stake. A total of 6,369,403 shares of Elanco Animal Health Incorporated were bought by Dodge & Cox during the quarter, and 0 were sold by Sachem Head Capital Management LP. In its current portfolio, BlackRock Fund Advisors holds 15,872,607 shares valued at $376.18 million.

In terms of Elanco Animal Health Incorporated share price expectations, FactSet research, analysts set an average price target of $33.00 in the next 12 months, up nearly 59.92% from the previous closing price of $20.01. Analysts anticipate Elanco Animal Health Incorporated stock to reach $40.00 by 2022, with the lowest price target being $22.00. In spite of this, 10 analysts ranked Elanco Animal Health Incorporated stock as an Overweight at the end of 2022.

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