Elanco Animal Health (NYSE:ELAN - Get Free Report) had its target price reduced by equities research analysts at Stifel Nicolaus from $20.00 to $18.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 52.41% from the company's current price.
Several other analysts also recently commented on ELAN. Leerink Partners began coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price objective for the company. Leerink Partnrs upgraded Elanco Animal Health to a "hold" rating in a research note on Monday, December 2nd. Morgan Stanley lowered Elanco Animal Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Barclays increased their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, UBS Group started coverage on Elanco Animal Health in a report on Monday, December 9th. They issued a "buy" rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $16.43.
View Our Latest Report on ELAN
Elanco Animal Health Stock Performance
Shares of ELAN traded down $0.11 during mid-day trading on Tuesday, hitting $11.81. 3,815,270 shares of the company's stock were exchanged, compared to its average volume of 4,280,442. The stock's 50-day simple moving average is $12.73 and its 200-day simple moving average is $13.57. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. 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 52 week low of $11.40 and a 52 week high of $18.80.
Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $0.18 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that Elanco Animal Health will post 0.92 EPS for the current year.
Institutional Investors Weigh In On Elanco Animal Health
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Elanco Animal Health by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock valued at $147,747,000 after purchasing an additional 4,361,799 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Elanco Animal Health during the second quarter worth $55,599,000. Magnetar Financial LLC grew its stake in Elanco Animal Health by 61.2% during the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company's stock valued at $120,298,000 after acquiring an additional 3,164,350 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Elanco Animal Health in the 3rd quarter worth approximately $19,708,000. Finally, Assenagon Asset Management S.A. grew its position in shares of 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 valued at $22,748,000 after purchasing an additional 1,214,123 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.
About Elanco Animal Health
(
Get Free Report)
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.
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