Tuesday, December 1, 2020

Elanco Animal Health Incorporated [ELAN] Is Currently 2.53 below its 200 Period Moving Avg: What Dose This Mean?

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Elanco Animal Health Incorporated [NYSE: ELAN] jumped around 0.77 points on Thursday, while shares priced at $31.18 at the close of the session, up 2.53%. The company report on October 14, 2020 that Elanco Recommends Shareholders Reject “Mini-Tender” Offer by TRC Capital Investment Corporation.

Elanco Animal Health Incorporated (“Elanco”) (NYSE: ELAN) has received a notification of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation (“TRC Capital”) to purchase up to 4,000,000 shares of Elanco common stock, representing approximately 1.00% of the outstanding shares of Elanco common stock.


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TRC Capital’s offer price of $26.45 per share is approximately 4.5% lower than the $27.70 closing price per share of Elanco common stock on the New York Stock Exchange on October 2, 2020, the last trading day before the date of the offer, and approximately 21.7% below the $33.79 closing price per share of Elanco common stock on October 12, 2020, the last trading day before the date of this press release.

Elanco Animal Health Incorporated stock is now 5.87% up from its year-to-date (YTD) trading value. ELAN Stock saw the intraday high of $31.33 and lowest of $30.77 per share. The company’s 52-week high price is 34.09, which means current price is +105.54% above from all time high which was touched on 10/12/20.

Compared to the average trading volume of 4.85M shares, ELAN reached a trading volume of 2440776 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Elanco Animal Health Incorporated [ELAN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELAN shares is $28.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELAN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Elanco Animal Health Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 20, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on August 13, 2020, representing the official price target for Elanco Animal Health Incorporated stock. Previously, the target price had yet another raise to $26.50, while Goldman analysts kept a Buy rating on ELAN stock.

The Average True Range (ATR) for Elanco Animal Health Incorporated is set at 1.18, with the Price to Sales ratio for ELAN stock in the period of the last 12 months amounting to 5.30. The Price to Book ratio for the last quarter was 1.94, with the Price to Cash per share for the same quarter was set at 2.92.

How has ELAN stock performed recently?

Elanco Animal Health Incorporated [ELAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.04. With this latest performance, ELAN shares gained by 18.06% in over the last four-week period, additionally plugging by 30.73% over the last 6 months – not to mention a rise of 19.14% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELAN stock in for the last two-week period is set at 56.70, with the RSI for the last a single of trading hit 55.60, and the three-weeks RSI is set at 58.94 for Elanco Animal Health Incorporated [ELAN]. The present Moving Average for the last 50 days of trading for this stock 28.47, while it was recorded at 31.05 for the last single week of trading, and 25.31 for the last 200 days.

Elanco Animal Health Incorporated [ELAN]: Deeper insight into the fundamentals

Elanco Animal Health Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 3.80.

Earnings analysis for Elanco Animal Health Incorporated [ELAN]

With the latest financial reports released by the company, Elanco Animal Health Incorporated posted 0.3/share EPS, while the average EPS was predicted by analysts to be reported at 0.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ELAN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Elanco Animal Health Incorporated go to 7.85%.

Insider trade positions for Elanco Animal Health Incorporated [ELAN]

There are presently around $12,411 million, or 86.60% of ELAN stock, in the hands of institutional investors. The top three institutional holders of ELAN stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 45,879,978, which is approximately -1.681% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 37,125,269 shares of the stock with an approximate value of $1.16 billion in ELAN stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $1.07 billion in ELAN stock with ownership of nearly -0.608% of the company’s market capitalization.

191 institutional holders increased their position in Elanco Animal Health Incorporated [NYSE:ELAN] by around 58,074,453 shares. Additionally, 192 investors decreased positions by around 64,529,246 shares, while 52 investors held positions by with 275,434,939 shares. The mentioned changes placed institutional holdings at 398,038,638 shares, according to the latest SEC report filing. ELAN stock had 70 new institutional investments in for a total of 7,324,540 shares, while 70 institutional investors sold positions of 10,293,022 shares during the same period.

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