Leerink Partners Begins Coverage on Elanco Animal Health (NYSE:ELAN)

Equities research analysts at Leerink Partners assumed coverage on shares of Elanco Animal Health (NYSE:ELAN) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a “market perform” rating and a $14.00 price target on the stock. Leerink Partners’ target price suggests a potential upside of 12.18% from the stock’s previous close.

A number of other research firms have also recently commented on ELAN. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Barclays lifted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and a consensus price target of $16.75.

Elanco Animal Health Stock Down 7.4 %

Shares of Elanco Animal Health stock opened at $12.48 on Monday. Elanco Animal Health has a 1 year low of $11.40 and a 1 year high of $18.80. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 1.41 and a beta of 1.41. The company has a 50-day moving average of $13.55 and a 200 day moving average of $14.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in Elanco Animal Health by 2.6% during the third quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after purchasing an additional 255,084 shares during the period. Magnetar Financial LLC grew its stake in shares of 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 during the period. Geode Capital Management LLC increased its holdings in Elanco Animal Health by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after acquiring an additional 65,303 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock worth $93,803,000 after acquiring an additional 394,921 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Elanco Animal Health by 19.2% during the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after purchasing an additional 646,522 shares in the last quarter. Hedge funds and other institutional investors 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.