Insider Trading Fri 5/24/24

Notable purchases -- CEO adds to COOK; notable sales -- Director active in AVT 

Buyers:

• COOK Chief Executive Officer bought 228,323 shares at $2.11 - $2.25 worth approx. $500K.
• CTRN 10% owner bought 50,406 shares at $22.07 - $22.96 worth approx. $1.1 mln.
• ELAN Director bought 15,000 shares at $16.98 worth ~$255K.
• EPSN Chief Executive Officer bought 26,000 shares at $5.35 - $5.38 worth nearly $140K.
• FOUR Chairman & Chief Executive Officer bought 39,135 shares at weighted average price of $64.0375 worth about $2.5 mln.
• NCLH Director bought 20,000 shares at $16.25 - $16.50 worth approx. $328K.
• OPK Chairman & Chief Executive Officer bought 100,000 shares at $1.26 - $1.27 worth ~$127K.
• SBRA Director bought 7,000 shares at $14.43 worth ~$101K.
• VSTS 10% owner Corvex Management bought 100,000 shares at $12.08 - $12.19 worth more than $1.2 mln.

Sellers:

• AVT Director sold 9,000 shares at $54.20 - $54.61 worth approx. $490K.
• ZWS 10% owner sold 48,388 shares at $32.91 - $32.98 worth ~$1.6 mln.

-=Kindred Biosciences (KIN) to be acquired by Elanco Animal Health (ELAN) for $9.25/share

 

Elanco Animal Health (ELAN) said Wednesday it would buy Kindred Biosciences (KIN) for roughly $440 million, in a move that could help it take on rival Zoetis (ZTS).

• Co announced the parties have entered into a definitive agreement for Elanco to acquire KindredBio, a biopharmaceutical company focused on developing novel pet therapeutics based on validated human targets. The acquisition further accelerates Elanco's expansion in the attractive pet health market, particularly advancing Elanco's presence in the fast-growing billion-dollar dermatology category.
• The acquisition agreement builds on Elanco's existing relationship with KindredBio, which began with licensing the global commercial rights of KindredBio's late-stage treatment for canine parvovirus, and continues Elanco's proven approach as an innovation partner of choice.
• Under the terms of the agreement, Elanco will acquire all outstanding stock of Kindred Biosciences at a price of $9.25 per share, or approximately $440 million, a premium of 52% based on the 30-day average. Elanco intends to fund the acquisition with pre-payable debt. Elanco expects to extend its leverage objective of under three times net leverage to Adjusted EBITDA by three months, from the end of 2023 to the end of the first quarter of 2024.
• Elanco expects to unlock upside to its long-term growth algorithm, with the potential to add a full percentage point of consistent annual revenue growth, starting in 2024, and further expand the company's margin potential over time. Transaction and operating costs will be slightly dilutive to Elanco's reported and adjusted earnings per share in 2021, with the impact expected to be concentrated in the fourth quarter, and also slightly dilutive to the full year 2022.
• ELAN reaffirms guidance for Q2 (Jun), sees Q2 (Jun) revs of $1.225-1.255 bln vs. $1.24 bln S&P Capital IQ Consensus.
• ELAN reaffirms guidance for FY21 (Dec), sees FY21 (Dec) revs of $4.67-4.71 bln vs. $4.7 bln S&P Capital IQ Consensus.

This week's biggest % winners & losers: May 4 - 8, 20 (wk 19)

This week's biggest % gainers/losers The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: MGNX (20.34 +204.49%), PTLA (17.9 +154.26%), TGTX (18.82 +67.14%), AKBA (11.98 +50.13%), FPRX (4.11 +41.72%), BCRX (4.7 +32.77%), ADAP (4.44 +32.54%)
• Materials: RYAM (1.97 +34.01%)
• Industrials: ENPH (57.28 +32.44%)
• Consumer Discretionary: CWH (14 +70.11%), CHGG (63.13 +49.03%), AXL (5.96 +42.24%), NEW (7.6 +36.2%), OSTK (16.13 +34.64%),
• Information Technology: TWLO (179.69 +66.41%), LPSN (33.1 +47.31%), LASR (21.27 +43.81%), EVBG (153.87 +41.42%),
• Consumer Staples: NGVC (15.51 +47.86%)

This week's top % losers

• Healthcare: INGN (40.15 -22.1%), ELAN (19.84 -17.47%), QTNT (7.41 -16.46%)
• Industrials: PBI (2.54 -26.16%), SAVE (10.56 -19.82%), BCO (41.06 -15.71%)
• Consumer Discretionary: TLRD (1.09 -30.13%), JCP (0.17 -29.43%), GME (4.98 -17.69%), DESP (5.61 -16.02%)
• Financials: OXLC (3.37 -31.22%), BHLB (11.83 -26.84%), MITT (2.16 -25%), PRA (15.95 -20.73%), LC (5.95 -18.04%), SQQQ (10.64 -15.69%)

-=Elanco Animal Health (ELAN) reported earnings on Thur 7 May 20 (b/o)

 Elanco Animal Health misses by $0.11, misses on revs; withdraws guidance

Reports Q1 (Mar) earnings of $0.13 per share, $0.11 worse than the S&P Capital IQ Consensus of $0.24; revenues fell 10.0% year/year to $657.7 mln vs the $720.19 mln S&P Capital IQ Consensus.

Long-term industry fundamentals remain intact; 2020 guidance withdrawn due to uncertainty of the duration and magnitude of impacts from the COVID-19 pandemic.

Earnings this week : May 4 - 8, 20 (wk 19)

Monday (May 4)

• Morning: PETS GATX KELYA PFGC NNN PETS PBI TSN WAB WEC WLK 
• Afternoon:  ACHC ALSN AIG AWR CAR CHGG DLB FN FIVN FRPT ITRI JKHY KMT KN LEG LMNX MHK MOS RMBS O RBC REXR SHAK SWKS SYKE THC TXRH TREX VNOM VNO WWD XPO

Tuesday (May 5)

• Morning: ACM AER AMCX APTV ARMK ARCC DBD D DD DEA FCAU GPI HSIC ITW INCY INGR IPGP JELD JLL TREE LGIH LPX LITE MNK MPC SBSI SYY TRI BLD TDG USCR USFD W WBT WRK
• Afternoon: ATVI ANET BYND BLKB CAMP CAKE COHU CMP DVA DK DVN EA ICFI IOSP INGN INSP NVTA JAZZ KGC KLAC LC LPSN DOOR MTCH MATX MAT MELI MEOH MGNX MODN MYGN NVRO ONTO PINS PAA PLNT PRO PRU SFM STOR VRSK VOYA DIS WU

Wednesday (May 6)

• Morning: AEIS ALXN ARES ASTE BWA BG CARS CBZ CDW FUN IMOS CNHI CGEN CVS DISCA GCP GM GEL GPC ROCK GPN KL KKR MYE NYT DNOW NS ODP OMI PZZA PSN PAG SBH STNG SMG SHOP TMHC TNC MEET VMC WD WM WEN WING WYND ZTS
• Afternoon: DDD ADTN ALB AYX AMED AEL AWK AMP ANGI ANSS APA AZPN ATO AVB BNFT BIO BEAT EPAY BFAM BRKR CCMP CVNA CTL CDAY CF CHEF XEC CPA CXW CSGS CUB CW DAR DCP DRQ ENTA EPR EQIX ESE ESPR WTRG ESS ETSY RE EVRG ES EXAS STAY EXR FSLY FRT FG FORM FTNT FCPT FOXA FOXF FNV GBT GDDY GRUB HR HI HUBS H IMMU INSG IAC INVH IRWD KRO LCI LGND LNC LVGO LYFT CLI MX MFC MRO MET MAA NTRA NBIX LASR NMIH NDLS NUS NTR NUVA OSUR PAAS PYPL PTON PING PXD PPD QTWO QGEN QDEL RDN RMAX RP RNR RCII REZI RNG RGLD SRPT SEDG SONO SJI SAVE SQ STAA SRI RUN TMUS TLND TTGT REAL TIVO TRMB TSE TROX TWLO TWO UDR UGI RARE UPWK VVV VIAV WCN WTS WELL WPM WPX WYNN ZIXI ZNGA 

Thursday (May 7)

• Morning: AAON AAN ACIW GOLF AES ABC BUD MT AAWW BLL BHC BCE BDX BV BMY CNQ CNNE CBRE CNP ECOM CRL CWEN CCOI CFX COMM CTB CORE CTVA DHR DISH SATS EPC EDIT ELAN ENB ENDP ENR EPAM EQT EXLS FIS FVRR FOCS IT THRM GTN HAIN HL HES HLT HIMX HFC HII NSIT IART NTLA IDCC IRM JBLU KAR KTB LAMR LAUR LXP MGA MBUU MMS MD MIDD MRNA MUR EYE NTCT NOMD OGE PCRX PEGI PENN PRFT DOC PBH PWR RTX RHP SERV SHLX SPAR SRCL TGNA TU TEVA TW THS VIAC VIRT VSTO VG WEX XEL YETI 
• Afternoon: ADT AL ALRM APPN AAXN BECN BILL BJRI BKNG CTSH SCOR ED CCRN DBX ENV EOG FSLR FISV GLUU GPRO LOPE GH HLF ICUI IPHI PODD ITGR LHCG LSI LYV MTW VAC MCHP MNST NWSA NUAN OMCL PDCE PEB PBA PRAA PFPT PBYI QRVO QLYS RPD RDFN RBA ROKU SKYW STMP SPWR SVMK SYNA TDC TTD TRUE TCX UBER OLED UPLD ECOL YELP ZG 

Friday (May 8) 

• Morning: AXL ATH AVA BLMN BPMP BR BIP CATM REOAD CRON UFS ESNT EVTC EVOP EXC GTT HEES HSC HMSY TWNK TILE KIM LEA NJR NBL OUT PBF PNW PPL SABR SSP SEAS SR SHO SWCH TEN VTR

*******

Earnings spotlight: Tyson Foods (NYSE:TSN), Shake Shack (NYSE:SHAK), Skyworks Solutions (NASDAQ:SWKS), Freshpet (NASDAQ:FRPT) and Chegg (NYSE:CHGG) on May 4; Marathon Petroleum (NYSE:MPC), Fiat Chrysler Automobiles (NYSE:FCAU), Sysco (NYSE:SYY), Beyond Meat (NASDAQ:BYND), US Foods (NYSE:USFD), DuPont (NYSE:DD), Activision Blizzard (NASDAQ:ATVI), Disney (NYSE:DIS), Prudential (NYSE:PRU), Allstate (NYSE:ALL) and Dominion Energy (NYSE:D) on May 5; CVS Health (NYSE:CVS), General Motors (NYSE:GM), Bunge (NYSE:BG), Barrick (NYSE:GOLD), MetLife (NYSE:MET), T-Mobile US (NASDAQ:TMUS), Etsy (NASDAQ:ETSY), Shopify (NYSE:SHOP), Peloton Interactive (NASDAQ:PTON) and PayPal (NASDAQ:PYPL) on May 6; AmerisourceBergen (NYSE:ABC), JetBlue (NASDAQ:JBLU), Booking Holdings (NASDAQ:BKNG), Raytheon Technologies (NYSE:RTX), Anheuser-Busch InBev (NYSE:BUD), Bristol-Myers Squibb (NYSE:BMY), ViacomCBS (NASDAQ:VIAC), Baidu (NASDAQ:BIDU), Uber (NYSE:UBER), News Corp (NASDAQ:NWSA) and Post Holdings (NYSE:POST) on May 7; and SeaWorld Entertainment (NYSE:SEAS), Cronos (NASDAQ:CRON) and PBF Energy (NYSE:PBF) on May 8.

Elanco Animal Health (ELAN) reported earnings on Wed 6 Feb 2019 (b/o)

** charts before earnings **

** charts after earnings **

Elanco Animal Health beats by $0.02, reports revs in-line; reaffirms FY19 EPS, revs guidance

• Reports Q4 (Dec) earnings of $0.29 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.27; revenues rose 6.0% year/year to $799.3 mln vs the $804.07 mln S&P Capital IQ Consensus.
• Gross margin, as a percent of revenue, was 48 percent, an increase of 200 basis points period over period. The gross margin increase was primarily due to favorable product mix and non-recurring costs in 2017 associated with the unwinding of purchase accounting inventory adjustments, partially offset by 200 basis points of unfavorable impact from foreign exchange rates.
• Co reaffirms guidance for FY19, sees EPS of $1.02-1.12, excluding non-recurring items, vs. $1.10 S&P Capital IQ Consensus; sees FY19 revs of $3.1-3.16 bln vs. $3.15 bln S&P Capital IQ Consensus.

Earnings this week : Feb. 4 - 8, 2019 (wk 6)

Earnings expected this week:

Monday (Feb 4)

• Morning: ALXN CLX ON SYY
• Afternoon: AVB FN GILD GOOG GLUU HIG LM STX

Tuesday (Feb 5)

• Morning: ADM AME ARMK BDX CHD CNC EL EMR ENR INGR IT LII LITE RL 
• Afternoon: ALL APC APU CB CERN DATA DIS DOX  EA MANH  MCHP MODN  MTSI MYGN MXL OI  PAA  PAYC SAVE SCSC  SFLY   SNAP SWKS TCS  TENB ULTI USNA VNOM VRTX ZEN

Wednesday (Feb 6)

• Morning:  ABG BSX BCO CSTE CPRI CTSH CMI ELAN FDC FDV GM HUM LLY  NYT REGN  SPOT TRVG  TTWO 
• Afternoon: ACLS AEL AHL AINV AOSL BLKB CCK CCMP CDAY CENT CINF CMG CSGS CUB CUZ DHT ECHO EGP ELY ENS ENSG FEYE FLO FLT FORM FTNT GBDC GPRO HQY ICHR IRBT KNL LCI LNC MC MET MTCH MTRX NEWR NOV NTGR NTR NXPI ORLY OSUR PAHC PCTY PRU PSDO PSEC RGLD RYN SONO TRMB TTGT TTMI TWO UHAL VVV WERN ZNGA

Wed pm/Thur am (vol) https://finviz.com/screener.ashx?v=211&t=ACLS,AEL,AHL,AINV,AOSL,BLKB,CCK,CCMP,CDAY,CENT,CINF,CMG,CSGS,CUB,CUZ,DHT,ECHO,EGP,ELY,ENS,ENSG,FEYE,FLO,FLT,FORM,FTNT,GBDC,GPRO,HQY,ICHR,IRBT,KNL,LCI,LNC,MC,MET,MTCH,MTRX,NEWR,NOV,NTGR,NTR,NXPI,ORLY,OSUR,PAHC,PCTY,PRU,PSDO,PSEC,RGLD,RYN,SONO,TRMB,TTGT,TTMI,TWO,UHAL,VVV,WERN,ZNGA,ADNT,ADS,AMAG,ANDX,ARW,BCE,BR,BSIG,BV,CAH,CDW,CEIX,CNHI,COR,DNKN,DTE,EIGI,EPC,FCAU,GRA,GRUB,HAIN,HBI,ICE,K,LABL,LCII,LH,MAC,MAS,MD,MMS,MPC,MPLX,MPW,ODFL,PAG,PBH,PENN,PM,PRLB,PTEN,SEE,SNA,SNY,SPB,SPGI,TGI,TKR,TMUS,TPR,TSN,TWTR,VIRT,VSTO,WLTW,WMS,WWE,YUM&ta=0&o=-volume

Thursday (Feb 7)

• Morning: ADNT ADS AMAG ANDX ARW BCE BR BSIG BV CAH CDW CEIX CNHI COR DNKN DTE EIGI EPC FCAU GRA GRUB HAIN HBI ICE K LABL LCII LH MAC MAS MD MMS MPC MPLX MPW ODFL PAG PBH PENN PM PRLB PTEN SEE SNA SNY SPB SPGI TGI TKR TMUS TPR TSN TWTR VIRT VSTO WLTW WMS WWE YUM
• Afternoon: ATEN ATGE ALNY ASYS ANGI MT ATHN BECN BHE BKH CARB CSL CBL CCS COLM OFC DXC EGAN EHC ESE EEFT EXPE FISV FSCT FTV FET FWRD G HUBG IAC KN LGND MTW MCFT MAT MTD MOBL MHK MSI NCR UEPS NR NWSA NUAN OMCL CNXN PMT POWI PRI PRO QRVO QNST RPD RSG SGEN SKX SWI SYNA TDC TBI USX VRSN VVI VSAT VRTU VCRA WTS WU ZAYO 

Friday (Feb 8)

• Morning: ARNC AVA BPL CAE CBOE CLF COTY ESNT EXC GT GRC EAF HAS IMGN PCG PSX  PSXP RDN UNVR VTR