Investors Should Take Note Of Elanco Animal Health Inc (ELAN)

Elanco Animal Health Inc (ELAN) concluded trading on Wednesday at a closing price of $15.43, with 3.39 million shares of worth about $52.24 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 40.78% during that period and on April 3, 2024 the price saw a loss of about -0.96%. Currently the company’s common shares owned by public are about 492.85M shares, out of which, 488.14M shares are available for trading.

However, the stock later moved at a day high price of 16.13, or with a loss of -0.96%. Stock saw a price change of -2.89% in past 5 days and over the past one month there was a price change of -4.58%. Year-to-date (YTD), ELAN shares are showing a performance of 3.56% which increased to 64.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.88 but also hit the highest price of $16.88 during that period. The average intraday trading volume for Elanco Animal Health Inc shares is 4.39 million. The stock is currently trading -3.41% below its 20-day simple moving average (SMA20), while that difference is down -2.29% for SMA50 and it goes to 21.44% higher than SMA200.

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Elanco Animal Health Inc (NYSE: ELAN) currently have 492.85M outstanding shares and institutions hold larger chunk of about 99.09% of that.

The stock has a current market capitalization of $7.61B and its 3Y-monthly beta is at 1.31. It has posted earnings per share of -$2.50 in the same period. It has Quick Ratio of 1.35 while making debt-to-equity ratio of 0.95. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ELAN, volatility over the week remained 2.14% while standing at 2.44% over the month.

Stock’s fiscal year EPS is expected to rise by 3.61% while it is estimated to increase by 15.06% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on January 05, 2024 offering a Buy rating for the stock and assigned a target price range of between $13 and $20 to it. Coverage by Jefferies stated Elanco Animal Health Inc (ELAN) stock as a Buy in their note to investors on December 19, 2023, suggesting a price target of $17 for the stock. On December 15, 2023, Morgan Stanley Upgrade their recommendations, while on December 07, 2023, Exane BNP Paribas Initiated their ratings for the stock with a price target of $18. Stock get an Overweight rating from Barclays on April 20, 2023.

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