Elanco Animal Health (NYSE:ELAN) Reaches New 1-Year Low After Earnings Miss

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $10.65 and last traded at $10.35, with a volume of 9619 shares. The stock had previously closed at $11.11.

The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $1.02 billion during 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%. The company's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS.

Analyst Upgrades and Downgrades

ELAN has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Morgan Stanley decreased their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday. Leerink Partners initiated coverage on 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. UBS Group decreased their target price on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Leerink Partnrs raised Elanco Animal Health to a "hold" rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Elanco Animal Health currently has a consensus rating of "Hold" and an average price target of $15.83.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new position in Elanco Animal Health during the fourth quarter worth $980,000. Forum Financial Management LP raised its stake in Elanco Animal Health by 22.7% during the fourth quarter. Forum Financial Management LP now owns 16,068 shares of the company's stock worth $195,000 after acquiring an additional 2,977 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Elanco Animal Health during the fourth quarter worth $2,122,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Elanco Animal Health by 13.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,716,929 shares of the company's stock worth $20,792,000 after acquiring an additional 206,482 shares in the last quarter. Finally, Vident Advisory LLC acquired a new position in Elanco Animal Health during the fourth quarter worth $122,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Stock Up 2.4 %

The firm has a fifty day moving average price of $11.71 and a 200 day moving average price of $13.03. 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 $5.53 billion, a P/E ratio of 27.96, a PEG ratio of 2.50 and a beta of 1.42.

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.