Elanco Animal Health (NYSE:ELAN) PT Lowered to $16.00 at Piper Sandler

Elanco Animal Health (NYSE:ELAN) had its price target lowered by equities researchers at Piper Sandler from $19.00 to $16.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 10.88% from the stock’s previous close.

Separately, Barclays dropped their price target on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

Elanco Animal Health Stock Up 1.1 %

Shares of ELAN stock opened at $14.43 on Monday. Elanco Animal Health has a twelve month low of $8.52 and a twelve month high of $18.80. The stock has a market cap of $7.13 billion, a P/E ratio of -5.45, a P/E/G ratio of 1.40 and a beta of 1.42. The stock has a 50 day moving average of $16.43 and a 200 day moving average of $15.71. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. As a group, sell-side analysts expect that Elanco Animal Health will post 0.93 EPS for the current year.

Insider Activity at Elanco Animal Health

In other news, Director William F. Doyle bought 15,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now directly owns 76,330 shares of the company’s stock, valued at approximately $1,296,083.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elanco Animal Health

Several large investors have recently modified their holdings of the business. SG Capital Management LLC purchased a new position in shares of Elanco Animal Health during the 1st quarter worth approximately $4,211,000. Cetera Advisors LLC acquired a new stake in shares of Elanco Animal Health in the first quarter valued at $213,000. Comerica Bank raised its holdings in shares of Elanco Animal Health by 272.6% in the 1st quarter. Comerica Bank now owns 11,716 shares of the company’s stock valued at $191,000 after buying an additional 8,572 shares during the period. Tidal Investments LLC raised its holdings in shares of Elanco Animal Health by 34.6% in the 1st quarter. Tidal Investments LLC now owns 22,575 shares of the company’s stock valued at $368,000 after buying an additional 5,797 shares during the period. Finally, Redwood Investment Management LLC acquired a new position in Elanco Animal Health during the 1st quarter worth about $1,512,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.