|Bid||0.00 x 1800|
|Ask||36.50 x 800|
|Day's Range||31.50 - 32.49|
|52 Week Range||31.50 - 37.61|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||34.71|
While no analyst tracked by Bloomberg has yet rated Elanco a sell, the drugmaker for animals earned eight hold ratings, more than the five buys it received. While the company may benefit from a macro environment that includes increasing meat consumption and “humanization of pets,” Goldman Sachs analyst Jami Rubin said “the stock has gotten ahead of itself” after shares surged 36 percent through last week since a September listing at $24 per share. With the average analyst price target at $34.60, implying a return of less than 9 percent over the next twelve months, Elanco may be coming up short as investors draw comparisons to Zoetis Inc. Zoetis, the top company in medicines for pets and cattle, has seen its shares more than triple since their debut in 2013.
The largest Insider Buys this week were for Dollar Tree Inc., DISH Network Corp, Elanco Animal Health Inc. and Hyster-Yale Materials Handling Inc.
President, CEO and Director of Elanco Animal Health Inc (NYSE:ELAN) Jeffrey N Simmons bought 22,000 shares of ELAN on 09/24/2018 at an average price of $24 a share.
Elanco Animal Health (ELAN) today updated its commitment to fighting antimicrobial resistance, which includes promoting responsible antibiotic use practices and policies while developing alternatives to medically important antibiotics (a subset of which include critically important antibiotics to human health). The Antimicrobial Resistance Challenge, led by the Centers for Disease Control and Prevention (CDC) and U.S. Health and Human Services (HHS), is a yearlong effort to accelerate the fight against antimicrobial resistance with action across governments and industries.
Animal-health spinoffs are hot again on Wall Street. Elanco Animal Health, formerly a unit of Eli Lilly, priced its initial public offering Wednesday evening at $24 a share, above the expected range. Animal health is a stable, growing business, both for livestock and pets.
Elanco Animal Health Incorporated today announced the closing of its previously announced initial public offering (“IPO”) of 62.9 million shares of its common stock at a price to the public of $24.00 per share. In connection with the IPO, the underwriters exercised in full their option to purchase an additional 9.435 million shares of common stock at the price to the public less underwriting discounts, bringing the total IPO size to 72.335 million shares. As of the closing of the IPO, Eli Lilly and Company (“Lilly”) owns approximately 80.2% of Elanco, which it plans to divest through a tax-efficient transaction.
Elanco Animal Health Incorporated (ELAN) announced the underwriters of its initial public offering (IPO) have fully exercised their option to purchase an additional 9.435 million shares at the initial public offering price of $24.00 per share, less underwriting discounts, bringing the total IPO size to 72.335 million shares.
Zoetis is the IBD Stock Of The Day as shares of Fido's drugmaker loomed near a buy point Friday after rival Elanco Animal Health began its second day of trading.
NEW YORK, NY / ACCESSWIRE / September 21, 2018 / EventBrite and Elanco Animal Health Inc. both made their debut in the stock market yesterday and soared as traders flocked to welcome them. RDI Initiates ...
Elanco Animal Health Inc. shares soared more than 35% Thursday in their trading debut, after the company priced the stock above its price range. Elanco, a spinoff from Eli Lilly & Co. , issued 62.9 million shares at $24 each, compared with a price range of $20 to $23, to raise $1.51 billion. Goldman Sachs. J.P. Morgan and Morgan Stanley were book-running managers on the deal. Shares are trading on the New York Stock Exchange under the ticker "ELAN."
Elanco Animal Health, the premier animal-health company being spun out of Eli Lilly (LLY) , is expected to begin trading on Thursday. Elanco enters the public market with significant revenue ($2.9 billion in 2017) but falling after-tax profit (NOPAT), and negative GAAP net income. As with any health-care firm, the valuation is based less on current profitability and more on the strength of its product/vaccine portfolio (and their patents) and its success in researching and developing (or acquiring) new animal-health products.
Elanco Animal Health Inc. priced shares for its initial public offering above the estimated range late Wednesday. The animal drug company, which is being spun off from Eli Lilly & Co. , priced shares at $24 a piece. Earlier in the month, Elanco had estimated shares in the $20 to $23 range. Under current pricing, Elanco hopes to raise up to $1.74 billion on an offering of 62.9 million shares with an added 9.4 million to underwriters to cover over-allotments. Following the IPO, Lilly expects to keep an 82.3% stake in Elanco, or 80.2% if over-allotment shares are sold. Goldman Sachs. J.P. Morgan and Morgan Stanley are acting as book-running managers. Shares are scheduled to begin trading under the ticker "ELAN" on the New York Stock Exchange on Thursday.
The shares are expected to begin trading on the New York Stock Exchange (NYSE) on September 20, 2018 under the ticker symbol “ELAN.” The offering is expected to close on September 24, 2018, subject to customary closing conditions. Elanco has granted the underwriters a 30-day option to purchase up to 9.435 million additional shares of common stock at the initial price to the public less underwriting discounts. Following the IPO, Lilly is expected to hold approximately 82.3% of Elanco (80.2% if the underwriters' option to purchase more shares is exercised in full).