Dodge & Cox recently announced the acquisition of new stake in Elanco Animal Health Incorporated (NYSE:ELAN). The institutional investor has increased its shareholding in the Healthcare company by 7.71% to 53.0 million shares with purchase of 3.8 million shares. This fresh investment now brings its stake to 11.18% valued currently at $699.09 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.17 million to 41.74 million shares. And Sachem Head Capital Management LP has lifted its position by 2.87% or 0.8 million shares – to 28.64 million shares.
With over 5.57 million Elanco Animal Health Incorporated (ELAN) shares trading Tuesday and a closing price of $12.25 on the day, the dollar volume was approximately $68.2 million. The shares have shown a negative half year performance of -48.31% and its price on 11/29/22 gained nearly 0.82%. Currently, there are 488.40M common shares owned by the public and among those 473.10M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for ELAN have a consensus price objective of $17.38. The analysts have set the share’s price value over the next 12 months at a high of $23.00 and a low of $12.00. The average price target is 30.24% above its recent price level and a downside to the estimated low will see the stock lose -2.08% over that period. But an upside of 46.74% will see the stock hit the forecast high price target while median target price for the stock is $17.50.
Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 776,183 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 205,323 shares.
The top 3 mutual fund holders in Elanco Animal Health Incorporated are Dodge & Cox Stock Fund, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market Index. Dodge & Cox Stock Fund owns 36.66 million shares of the company’s stock, all valued at over $483.61 million. The company bought an additional 1.67 million shares recently to bring their total holdings to about 7.73% of the shares outstanding. Vanguard Total Stock Market Index bought 42757.0 shares to bring its total holdings to over 13.52 million shares at a value of $178.3 million. Vanguard Total Stock Market Index now owns shares totaling to 2.85% of the shares outstanding.
Shares of Elanco Animal Health Incorporated (NYSE: ELAN) opened at $12.18, up $0.03 from a prior closing price of $12.15. However, the script later moved the day high at 12.66, up 0.82%. The company’s stock has a 5-day price change of 1.07% and -18.50% over the past three months. ELAN shares are trading -56.84% year to date (YTD), with the 12-month market performance down to -59.42% lower. It has a 12-month low price of $11.34 and touched a high of $30.64 over the same period. ELAN has an average intraday trading volume of 7.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.22%, -3.31%, and -38.70% respectively.
Institutional ownership of Elanco Animal Health Incorporated (NYSE: ELAN) shares accounts for 99.30% of the company’s 488.40M shares outstanding. Mutual fund holders own 55.50%, while other institutional holders and individual stakeholders account for 63.06% and 42.73% respectively.
It has a market capitalization of $5.91B and a beta (3y monthly) value of 0.91. The earnings-per-share (ttm) stands at -$0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.80% over the week and 5.27% over the month.
Analysts forecast that Elanco Animal Health Incorporated (ELAN) will achieve an EPS of $0.16 for the current quarter, $0.2 for the next quarter and $1.21 for 2023. The lowest estimate earnings-per-share for the quarter is $0.14 while analysts give the company a high EPS estimate of $0.18. Comparatively, EPS for the current quarter was $0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 23.70%, and 0.76% over the next financial year. EPS should grow at an annualized rate of 9.00% over the next five years, compared to -48.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Elanco Animal Health Incorporated (ELAN) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 8 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the ELAN, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on August 18, 2022, with the firm’s price target at $37-$22. JP Morgan coverage for the Elanco Animal Health Incorporated (ELAN) stock in a research note released on August 16, 2022 offered a Neutral rating with a price target of $24. Goldman was of a view on July 21, 2022 that the stock is Sell, while Piper Sandler gave the stock Neutral rating on July 12, 2022, issuing a price target of $22. Morgan Stanley on their part issued Overweight rating on November 18, 2021.
