Elanco Animal Health (NYSE:ELAN) Sets New 1-Year Low on Analyst Downgrade

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) shares hit a new 52-week low during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $20.00 to $18.00. Stifel Nicolaus currently has a buy rating on the stock. Elanco Animal Health traded as low as $11.35 and last traded at $11.39, with a volume of 1146654 shares changing hands. The stock had previously closed at $11.80.

Other equities analysts also recently issued reports about the stock. UBS Group initiated coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a "buy" rating and a $18.00 price objective on the stock. Barclays raised their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price objective for the company. Morgan Stanley lowered Elanco Animal Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Leerink Partnrs upgraded Elanco Animal Health to a "hold" rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $16.43.

Hedge Funds Weigh In On Elanco Animal Health

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Elanco Animal Health by 11.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 34,942 shares of the company's stock valued at $504,000 after acquiring an additional 3,647 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Elanco Animal Health by 13.5% in the second quarter. TD Asset Management Inc now owns 379,342 shares of the company's stock valued at $5,474,000 after buying an additional 45,203 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Elanco Animal Health by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 138,324 shares of the company's stock valued at $1,996,000 after buying an additional 2,892 shares during the period. Los Angeles Capital Management LLC acquired a new position in Elanco Animal Health during the 2nd quarter worth approximately $170,000. Finally, Choreo LLC acquired a new stake in Elanco Animal Health in the second quarter valued at approximately $620,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Price Performance

The business's 50 day moving average price is $12.71 and its 200-day moving average price is $13.55. 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 cap of $5.70 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 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 $1.03 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the company posted $0.18 EPS. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts forecast that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current year.

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.