Elanco Animal Health (NYSE:ELAN) Given New $12.00 Price Target at Piper Sandler

Elanco Animal Health (NYSE:ELAN - Get Free Report) had its price objective reduced by Piper Sandler from $16.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price objective points to a potential upside of 10.85% from the stock's previous close.

ELAN has been the subject of a number of other research reports. Barclays dropped their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Elanco Animal Health from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. 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 report on Wednesday, February 26th. Leerink Partnrs upgraded Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. Finally, UBS Group reduced their price objective on 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.17.

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Elanco Animal Health Trading Down 2.8 %

Shares of ELAN stock traded down $0.32 during trading hours on Thursday, hitting $10.83. 3,591,955 shares of the company were exchanged, compared to its average volume of 4,663,818. The firm has a fifty day moving average of $11.60 and a 200 day moving average of $12.86. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health has a 1 year low of $10.20 and a 1 year high of $18.80. The firm has a market cap of $5.35 billion, a PE ratio of 27.06, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business earned $0.08 EPS. The business's revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that Elanco Animal Health will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in Elanco Animal Health in the fourth quarter valued at about $29,000. AM Squared Ltd acquired a new position in shares of Elanco Animal Health in the 3rd quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Elanco Animal Health during the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its position in shares of Elanco Animal Health by 158.7% during the third quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company's stock worth $49,000 after buying an additional 2,044 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Elanco Animal Health by 89.9% during the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company's stock worth $50,000 after buying an additional 1,601 shares in the last quarter. 97.48% of the stock is 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.