Barclays Has Lowered Expectations for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN - Get Free Report) had its target price lowered by research analysts at Barclays from $20.00 to $19.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective suggests a potential upside of 69.87% from the company's previous close.

Several other research firms have also recently weighed in on ELAN. Leerink Partnrs raised Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. Stifel Nicolaus lowered their target price on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, February 21st. UBS Group started coverage on Elanco Animal Health in a research note on Monday, December 9th. They set a "buy" rating and a $18.00 price target for the company. Morgan Stanley lowered their price objective on shares of Elanco Animal Health from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Finally, Leerink Partners started coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a "market perform" rating and a $14.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.83.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock traded up $0.27 during trading on Wednesday, hitting $11.19. 6,902,175 shares of the company's stock traded hands, compared to its average volume of 4,960,017. Elanco Animal Health has a 1 year low of $10.20 and a 1 year high of $18.80. The business has a 50-day simple moving average of $11.71 and a 200-day simple moving average of $13.03. The stock has a market capitalization of $5.53 billion, a P/E ratio of 27.96, a PEG ratio of 2.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the business earned $0.08 EPS. The business's revenue was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Elanco Animal Health will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Elanco Animal Health by 2,129.2% in the third quarter. Blue Trust Inc. now owns 3,968 shares of the company's stock worth $57,000 after purchasing an additional 3,790 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Elanco Animal Health by 70.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,515 shares of the company's stock valued at $287,000 after buying an additional 8,077 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Elanco Animal Health by 158.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company's stock worth $49,000 after buying an additional 2,044 shares during the period. Private Management Group Inc. increased its stake in Elanco Animal Health by 62.6% in the 3rd quarter. Private Management Group Inc. now owns 1,442,334 shares of the company's stock worth $21,188,000 after buying an additional 555,131 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Elanco Animal Health by 101.1% during the third quarter. Harbor Capital Advisors Inc. now owns 874,895 shares of the company's stock valued at $12,852,000 after acquiring an additional 439,757 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

About Elanco Animal Health

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.