Elanco Animal Health Incorporated (NYSE:ELAN) Receives $17.14 Average Target Price from Brokerages

Elanco Animal Health Incorporated (NYSE:ELAN) has earned an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.14.

ELAN has been the topic of several research analyst reports. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Barclays increased their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently made changes to their positions in ELAN. Canada Pension Plan Investment Board bought a new stake in shares of Elanco Animal Health in the 2nd quarter worth approximately $55,599,000. Magnetar Financial LLC increased its position 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 buying an additional 3,164,350 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Elanco Animal Health during the third quarter valued at $19,708,000. Assenagon Asset Management S.A. boosted its holdings 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 acquiring an additional 1,214,123 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Elanco Animal Health in the second quarter worth $16,043,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

Shares of ELAN stock opened at $13.36 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. Elanco Animal Health has a fifty-two week low of $11.40 and a fifty-two week high of $18.80. The firm has a market cap of $6.60 billion, a P/E ratio of 33.40, a P/E/G ratio of 1.40 and a beta of 1.41. The business’s 50 day moving average price is $13.70 and its 200-day moving average price is $14.76.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. On average, equities research analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current year.

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.