Elanco Animal Health Target of Unusually Large Options Trading (NASDAQ:ELAN)

Elanco Animal Health (NASDAQ:ELAN) saw some unusual options trading on Thursday. Stock traders bought 1,287 put options on the stock. This is an increase of 1,739% compared to the typical daily volume of 70 put options.

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their target price on Sun Life Financial from C$58.00 to C$60.00 in a research report on Friday, May 10th. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, Guggenheim began coverage on Elanco Animal Health in a research note on Wednesday, May 22nd. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Elanco Animal Health currently has a consensus rating of “Hold” and a consensus price target of $33.56.

In related news, Director John P. Bilbrey acquired 7,750 shares of the business’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $32.39 per share, with a total value of $251,022.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

A number of hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers acquired a new position in shares of Elanco Animal Health in the 4th quarter valued at $2,169,000. Eaton Vance Management lifted its stake in shares of Elanco Animal Health by 102.8% in the 4th quarter. Eaton Vance Management now owns 142,967 shares of the company’s stock valued at $4,508,000 after purchasing an additional 72,480 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Elanco Animal Health in the 4th quarter valued at $9,626,000. LPL Financial LLC lifted its stake in shares of Elanco Animal Health by 28.7% in the 4th quarter. LPL Financial LLC now owns 11,538 shares of the company’s stock valued at $364,000 after purchasing an additional 2,571 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Elanco Animal Health in the 4th quarter valued at $83,000.

Shares of NASDAQ ELAN traded down $0.34 during midday trading on Friday, hitting $32.50. 2,475,142 shares of the company’s stock were exchanged, compared to its average volume of 6,180,620. Elanco Animal Health has a twelve month low of $28.00 and a twelve month high of $37.61. The business’s 50 day moving average is $33.18.

Elanco Animal Health (NASDAQ:ELAN) last announced its earnings results on Thursday, May 9th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. The firm had revenue of $731.10 million for the quarter, compared to analyst estimates of $743.40 million. Elanco Animal Health’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share.

About Elanco Animal Health

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