Elanco Animal Health (NYSE:ELAN – Get Rating) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “sell” rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $19.00 price objective on the stock, down from their previous price objective of $32.00. The Goldman Sachs Group’s price target points to a potential downside of 7.99% from the stock’s current price.
Several other brokerages also recently issued reports on ELAN. Stifel Nicolaus lowered their price target on Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating for the company in a report on Friday, June 24th. Morgan Stanley lowered their price target on Elanco Animal Health to $37.00 and set an “overweight” rating for the company in a report on Tuesday, May 17th. Finally, Piper Sandler assumed coverage on Elanco Animal Health in a report on Monday, July 11th. They issued a “neutral” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.33.
Elanco Animal Health Trading Up 0.2 %
ELAN stock opened at $20.65 on Thursday. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -27.91, a PEG ratio of 1.02 and a beta of 0.81. The company has a quick ratio of 1.41, a current ratio of 2.44 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $21.72 and a 200-day simple moving average of $24.57. Elanco Animal Health has a 52 week low of $19.11 and a 52 week high of $37.49.
Elanco Animal Health (NYSE:ELAN – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Elanco Animal Health had a positive return on equity of 6.61% and a negative net margin of 7.65%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $0.37 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Elanco Animal Health will post 1.15 EPS for the current year.
Insider Activity
In related news, Director John P. Bilbrey purchased 10,000 shares of Elanco Animal Health stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the transaction, the director now owns 34,222 shares of the company’s stock, valued at approximately $753,910.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company’s stock.
Hedge Funds Weigh In On Elanco Animal Health
Several large investors have recently modified their holdings of ELAN. Dodge & Cox lifted its position in shares of Elanco Animal Health by 510.5% during the fourth quarter. Dodge & Cox now owns 22,218,300 shares of the company’s stock worth $630,555,000 after purchasing an additional 18,579,176 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Elanco Animal Health during the first quarter worth about $83,259,000. D. E. Shaw & Co. Inc. lifted its position in shares of Elanco Animal Health by 141.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 3,909,411 shares of the company’s stock worth $110,949,000 after purchasing an additional 2,287,366 shares during the last quarter. BlackRock Inc. lifted its position in shares of Elanco Animal Health by 6.6% during the first quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock worth $684,027,000 after purchasing an additional 1,631,045 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Elanco Animal Health by 14.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,105,226 shares of the company’s stock worth $315,825,000 after purchasing an additional 1,541,163 shares during the last quarter.
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.
Further Reading
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Source: defenseworld.net
