Elanco Animal Health (NYSE:ELAN) Reaches New 52-Week Low - Time to Sell?

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) reached a new 52-week low on Saturday . The company traded as low as $10.77 and last traded at $11.26, with a volume of 7136767 shares changing hands. The stock had previously closed at $11.66.

Analysts Set New Price Targets

ELAN has been the topic of several recent research reports. Morgan Stanley reduced their price target on Elanco Animal Health from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Leerink Partnrs upgraded Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. UBS Group initiated coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They issued a "buy" rating and a $18.00 price target on the stock. Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Finally, Barclays upped their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $16.29.

Elanco Animal Health Stock Down 0.8 %

The stock has a 50 day simple moving average of $11.85 and a 200-day simple moving average of $13.11. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The firm has a market cap of $5.55 billion, a PE ratio of 28.06, a PEG ratio of 2.53 and a beta of 1.42.

Hedge Funds Weigh In On Elanco Animal Health

Hedge funds have recently added to or reduced their stakes in the company. Commerce Bank raised its position in Elanco Animal Health by 2.2% in the 3rd quarter. Commerce Bank now owns 35,114 shares of the company's stock worth $516,000 after buying an additional 741 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Elanco Animal Health by 2.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock valued at $524,000 after acquiring an additional 900 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Elanco Animal Health by 0.8% in the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock worth $1,737,000 after acquiring an additional 1,166 shares during the period. MTM Investment Management LLC raised its holdings in shares of Elanco Animal Health by 9.3% during the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company's stock valued at $172,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Keene & Associates Inc. lifted its position in Elanco Animal Health by 5.7% during the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company's stock valued at $337,000 after purchasing an additional 1,240 shares during the period. 97.48% of the stock is currently 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.