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 Inc shares valued at $51,974 were purchased by Harrington Michael J on Aug 22 ’24. At $14.85 per share, Harrington Michael J acquired 3,500 shares. The insider’s holdings grew to 81,094 shares worth approximately $1.11 million following the completion of this transaction.
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Also, Simmons Jeffrey N purchased 100,000 shares, netting a total of over 1,300,610 in proceeds. Following the buying of shares at $13.01 each, the insider now holds 145,000 shares.
Before that, DOYLE WILLIAM F had added 15,000 shares to its account. In a trade valued at $254,700, the Director bought Elanco Animal Health Inc shares for $16.98 each. Upon closing the transaction, the insider’s holdings increased to 15,000 shares, worth approximately $1.04 million.
As published in a research note from Morgan Stanley on September 19, 2024, Elanco Animal Health Inc [ELAN] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $15 from $17. Analysts at Stifel upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of December 19, 2023, Jefferies has initiated its “Buy” rating for ELAN. Earlier on December 15, 2023, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for ELAN stock which previously was a “an Equal-weight”.
Analyzing ELAN Stock Performance
During the last five days, there has been a drop of approximately -6.76%. Over the course of the year, Elanco Animal Health Inc shares have dropped approximately -8.32%. Shares of the company reached a 52-week high of $18.80 on 06/12/24 and a 52-week low of $11.40 on 08/08/24. A 50-day SMA is recorded $13.95, while a 200-day SMA reached $15.10. Nevertheless, trading volume fell to 5.18 million shares from 5.58 million shares the previous day.
Support And Resistance Levels for Elanco Animal Health Inc (ELAN)
According to the 24-hour chart, there is a support level at 13.51, which, if violated, would cause prices to drop to 13.37. In the upper region, resistance lies at 13.93. The next price resistance is at 14.21. RSI (Relative Strength Index) is 40.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 99.07%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
