Elanco Animal Health (NYSE:ELAN) Reaches New 12-Month Low - Time to Sell?

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $8.10 and last traded at $8.22, with a volume of 35183 shares. The stock had previously closed at $8.33.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ELAN shares. Barclays cut their price objective on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price target on shares of Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday. Piper Sandler decreased their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. UBS Group dropped their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley decreased their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.67.

Elanco Animal Health Stock Down 0.7 %

The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market cap of $4.25 billion, a PE ratio of 21.40, a P/E/G ratio of 2.50 and a beta of 1.44. The business's 50-day simple moving average is $10.59 and its 200 day simple moving average is $12.02.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 earnings per share. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Transactions at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $10.20 per share, with a total value of $102,000.00. Following the completion of the transaction, the director now directly owns 111,459 shares of the company's stock, valued at approximately $1,136,881.80. The trade was a 9.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On Elanco Animal Health

A number of large investors have recently made changes to their positions in the business. Hillsdale Investment Management Inc. grew its stake in 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 purchasing an additional 900 shares during the last quarter. Arizona State Retirement System increased its holdings in Elanco Animal Health by 0.8% in the 4th quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock worth $1,737,000 after buying an additional 1,166 shares during the period. MTM Investment Management LLC raised its position in Elanco Animal Health by 9.3% during the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company's stock worth $172,000 after buying an additional 1,200 shares during the last quarter. M&T Bank Corp lifted its stake in Elanco Animal Health by 5.9% during the 3rd quarter. M&T Bank Corp now owns 26,407 shares of the company's stock valued at $388,000 after acquiring an additional 1,464 shares during the period. Finally, Freedom Investment Management Inc. boosted its holdings in shares of Elanco Animal Health by 9.1% in the 4th quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company's stock valued at $251,000 after acquiring an additional 1,725 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

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.