Elanco Animal Health (NYSE:ELAN) Shares Down 6.4% - Here's Why

Shares of Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) dropped 6.4% during mid-day trading on Friday . The stock traded as low as $11.35 and last traded at $10.92. Approximately 291,906 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 4,436,308 shares. The stock had previously closed at $11.66.

Analyst Ratings Changes

Several research firms recently commented on ELAN. UBS Group started coverage on Elanco Animal Health in a report on Monday, December 9th. They set a "buy" rating and a $18.00 target price on the stock. Leerink Partners began coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They set a "market perform" rating and a $14.00 target price for the company. Barclays raised their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Leerink Partnrs raised shares of Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus lowered their target price on shares of Elanco Animal Health from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. One 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. According to data from MarketBeat, Elanco Animal Health currently has a consensus rating of "Hold" and a consensus target price of $16.29.

Elanco Animal Health Trading Up 0.6 %

The company has a market capitalization of $5.59 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 2.69 and a beta of 1.42. The company has a 50 day simple moving average of $11.88 and a 200 day simple moving average of $13.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Institutional Investors Weigh In On Elanco Animal Health

A number of large investors have recently modified their holdings of the business. FMR LLC boosted its position in Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company's stock worth $487,213,000 after acquiring an additional 37,022,891 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Elanco Animal Health by 76.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock worth $147,747,000 after purchasing an additional 4,361,799 shares during the last quarter. Norges Bank acquired a new position in shares of Elanco Animal Health during the 4th quarter worth approximately $47,424,000. Brandes Investment Partners LP increased its holdings in shares of Elanco Animal Health by 66.9% in the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company's stock valued at $69,405,000 after purchasing an additional 2,296,691 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Elanco Animal Health during the fourth quarter worth approximately $20,396,000. Hedge funds and other institutional investors own 97.48% of the company's stock.

Elanco Animal Health Company Profile

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.