The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 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 $2.38 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 $2.19 million.
As published in a research note from Goldman on July 21, 2022, Elanco Animal Health Incorporated [ELAN] has been rated down from a Buy to a Sell and the price target has been revised to $19 from $32. This represents a -0.11% premium over Thursday’s closing price. Analysts at Piper Sandler started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid July. As of November 18, 2021, Morgan Stanley has initiated its “an Overweight” rating for ELAN. Earlier on October 28, 2021, Stifel downgraded its rating. Their new recommendation was “a Hold” for ELAN stock which previously was a “a Buy”.
Analyzing ELAN’s Price Performance
On Thursday, Elanco Animal Health Incorporated [NYSE: ELAN] plunged -1.30% to $19.02. The stock’s lowest price that day was $18.84, but it reached a high of $19.32 in the same session. During the last five days, there has been a drop of approximately -7.49%. Over the course of the year, Elanco Animal Health Incorporated shares have dropped approximately -32.98%. Shares of the company reached a 52-week high of $29.66 on 03/03/22 and a 52-week low of $18.84 on 08/04/22. A 50-day SMA is recorded $21.17, while a 200-day SMA reached $26.02. Nevertheless, trading volume fell to 6.56 million shares from 4.11 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 18.80, which, if violated, would cause prices to drop to 18.58. In the upper region, resistance lies at 19.28. The next price resistance is at 19.54. RSI (Relative Strength Index) is 31.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.91, which suggests the price will decrease in the coming days. Percent R is at 91.55%, 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 Jul 14, 2022 dropping by -2.81 million shares to 14.74 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 17.55 million shares. A decline of -19.06% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.09 of the overall float, the days-to-cover ratio (short ratio) decline to 3.09.
Which companies own the most shares of Elanco Animal Health Incorporated (ELAN)?
According to Dodge & Cox filings, the company currently owns 49,206,190 shares, which is about 10.38% of the total ELAN shares outstanding. The investor’s shares have appreciated by 20,618,487 from its previous 13-F filing of 28587703.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $796,346,071. T. Rowe Price Associates, Inc. acquire a 0.14% interest valued at $677.49 million while PRIMECAP Management Co. purchased a 625,326 stake. A total of 203,795 shares of Elanco Animal Health Incorporated were bought by Aristotle Capital Management LLC 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 $311.58 million.
In terms of Elanco Animal Health Incorporated share price expectations, FactSet research, analysts set an average price target of $27.25 in the next 12 months, up nearly 40.11% from the previous closing price of $19.27. Analysts anticipate Elanco Animal Health Incorporated stock to reach $37.00 by 2022, with the lowest price target being $19.00. In spite of this, 11 analysts ranked Elanco Animal Health Incorporated stock as an Overweight at the end of 2022. On August 05, 2021, Credit Suisse assigned a price target of “an Outperform” to the stock and resumed coverage with a $38.