Elanco Animal Health (NYSE:ELAN) Earns Market Perform Rating from Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of Elanco Animal Health (NYSE:ELAN - Free Report) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued a market perform rating and a $14.00 price objective on the stock.

ELAN has been the topic of a number of other reports. Morgan Stanley cut Elanco Animal Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Barclays increased their price target on Elanco Animal Health from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus restated a "buy" rating and set a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health has a consensus rating of "Hold" and a consensus price target of $16.75.

Elanco Animal Health Price Performance

Elanco Animal Health stock traded up $0.27 during midday trading on Monday, hitting $13.48. The company's stock had a trading volume of 3,482,501 shares, compared to its average volume of 4,730,603. Elanco Animal Health has a 12 month low of $11.40 and a 12 month high of $18.80. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.66 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.38 and a beta of 1.41. The stock's 50-day moving average price is $13.57 and its 200-day moving average price is $14.61.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Elanco Animal Health

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Elanco Animal Health by 2.6% during the third quarter. State Street Corp now owns 9,912,693 shares of the company's stock worth $145,617,000 after acquiring an additional 255,084 shares in the last quarter. Magnetar Financial LLC increased its position in Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company's stock worth $120,298,000 after purchasing an additional 3,164,350 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Elanco Animal Health by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company's stock worth $115,623,000 after purchasing an additional 65,303 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company's stock worth $93,803,000 after purchasing an additional 394,921 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Elanco Animal Health by 19.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company's stock valued at $58,875,000 after buying an additional 646,522 shares during the last quarter. 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.