Stifel Nicolaus Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $16.00

Elanco Animal Health (NYSE:ELAN - Get Free Report) had its price objective reduced by equities research analysts at Stifel Nicolaus from $18.00 to $16.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 49.46% from the stock's previous close.

A number of other equities research analysts have also issued reports on ELAN. Barclays boosted their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Morgan Stanley reduced their target price on Elanco Animal Health from $15.00 to $14.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Leerink Partnrs raised Elanco Animal Health to a "hold" rating in a research report on Monday, December 2nd. Leerink Partners started coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a "market perform" rating and a $14.00 price target on the stock. Finally, UBS Group started coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a "buy" rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned 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 price target of $16.00.

Elanco Animal Health Price Performance

ELAN stock traded down $0.41 on Friday, hitting $10.71. 12,900,332 shares of the company's stock traded hands, compared to its average volume of 4,907,678. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.50 and a beta of 1.42. Elanco Animal Health has a 1-year low of $10.20 and a 1-year high of $18.80. 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 stock has a fifty day moving average of $11.78 and a 200-day moving average of $13.09.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). 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 analyst estimates of $1.01 billion. During the same period last year, the firm earned $0.08 earnings per share. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts forecast that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Institutional Trading of Elanco Animal Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in Elanco Animal Health by 2,129.2% in the 3rd quarter. Blue Trust Inc. now owns 3,968 shares of the company's stock valued at $57,000 after buying an additional 3,790 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Elanco Animal Health by 70.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,515 shares of the company's stock valued at $287,000 after acquiring an additional 8,077 shares during the period. Assenagon Asset Management S.A. raised its position in Elanco Animal Health by 363.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company's stock worth $22,748,000 after purchasing an additional 1,214,123 shares in the last quarter. Country Club Bank bought a new position in shares of Elanco Animal Health during the 3rd quarter worth approximately $1,925,000. Finally, New World Advisors LLC raised its stake in Elanco Animal Health by 28.0% during the third quarter. New World Advisors LLC now owns 25,800 shares of the company's stock worth $379,000 after acquiring an additional 5,650 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.