Shares of Elanco Animal Health Incorporated (NYSE:ELAN – Get Rating) have been assigned a consensus rating of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $21.00.
ELAN has been the subject of a number of analyst reports. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $37.00 to $22.00 in a report on Thursday, August 18th. Barclays cut their price objective on Elanco Animal Health from $32.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. JPMorgan Chase & Co. cut Elanco Animal Health from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $28.00 to $24.00 in a research note on Tuesday, August 16th. Stifel Nicolaus cut their price objective on Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, June 24th. Finally, Piper Sandler cut their price objective on Elanco Animal Health from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 16th.
Elanco Animal Health Trading Up 2.5 %
Shares of ELAN opened at $12.87 on Wednesday. The company has a market capitalization of $6.10 billion, a P/E ratio of -36.77, a P/E/G ratio of 1.25 and a beta of 0.92. Elanco Animal Health has a one year low of $12.19 and a one year high of $35.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.47 and a current ratio of 2.47. The stock has a 50-day moving average price of $16.28 and a 200 day moving average price of $20.86.
Elanco Animal Health (NYSE:ELAN – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Elanco Animal Health had a positive return on equity of 7.40% and a negative net margin of 3.77%. Elanco Animal Health’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. Sell-side analysts forecast that Elanco Animal Health will post 1.09 EPS for the current fiscal year.
Insider Activity at Elanco Animal Health
In other news, insider Rajeev A. Modi purchased 6,700 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was purchased at an average cost of $14.90 per share, with a total value of $99,830.00. Following the purchase, the insider now owns 41,157 shares in the company, valued at approximately $613,239.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jeffrey N. Simmons purchased 30,000 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was purchased at an average cost of $14.54 per share, with a total value of $436,200.00. Following the purchase, the chief executive officer now owns 30,000 shares in the company, valued at approximately $436,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajeev A. Modi purchased 6,700 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were purchased at an average cost of $14.90 per share, with a total value of $99,830.00. Following the completion of the purchase, the insider now owns 41,157 shares in the company, valued at approximately $613,239.30. The disclosure for this purchase can be found here. Insiders have acquired a total of 56,700 shares of company stock worth $839,630 in the last three months. 6.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On Elanco Animal Health
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in shares of Elanco Animal Health by 72.1% during the 2nd quarter. Dodge & Cox now owns 49,206,190 shares of the company’s stock worth $965,918,000 after acquiring an additional 20,618,487 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Elanco Animal Health by 110.8% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 6,726,521 shares of the company’s stock worth $132,042,000 after acquiring an additional 3,535,308 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Elanco Animal Health by 6.6% during the 1st quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock worth $684,027,000 after acquiring an additional 1,631,045 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Elanco Animal Health by 14.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,105,226 shares of the company’s stock worth $315,825,000 after acquiring an additional 1,541,163 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its stake in shares of Elanco Animal Health by 46.5% during the 1st quarter. Sound Shore Management Inc. CT now owns 4,313,804 shares of the company’s stock worth $112,547,000 after acquiring an additional 1,369,914 shares in the last quarter. 98.15% of the stock is owned by 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.
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