Elanco Animal Health (NYSE:ELAN) PT Raised to $23.00 at Barclays

Elanco Animal Health (NYSE:ELAN) had its price target lifted by analysts at Barclays from $19.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 35.61% from the stock’s previous close.

ELAN has been the topic of a number of other research reports. The Goldman Sachs Group raised their target price on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research note on Tuesday, February 27th. Morgan Stanley boosted their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, TheStreet upgraded Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health presently has a consensus rating of “Moderate Buy” and an average price target of $17.29.

Elanco Animal Health Trading Up 0.4 %

Elanco Animal Health stock traded up $0.07 during midday trading on Thursday, reaching $16.96. The stock had a trading volume of 1,869,068 shares, compared to its average volume of 4,518,961. The stock’s 50-day simple moving average is $14.98 and its 200 day simple moving average is $14.04. Elanco Animal Health has a twelve month low of $7.88 and a twelve month high of $17.23. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75. The stock has a market capitalization of $8.38 billion, a PE ratio of -6.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. Analysts expect that Elanco Animal Health will post 0.91 EPS for the current year.

Insiders Place Their Bets

In related news, Director R David Hoover purchased 20,000 shares of Elanco Animal Health stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $16.14 per share, with a total value of $322,800.00. Following the completion of the transaction, the director now owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elanco Animal Health

A number of hedge funds have recently added to or reduced their stakes in ELAN. Sapient Capital LLC acquired a new position in Elanco Animal Health during the 4th quarter valued at approximately $2,046,000. Phocas Financial Corp. bought a new position in shares of Elanco Animal Health in the fourth quarter valued at $3,857,000. Ancora Advisors LLC acquired a new stake in shares of Elanco Animal Health during the 3rd quarter valued at $37,189,000. UBS Group AG boosted its stake in shares of Elanco Animal Health by 78.2% during the 3rd quarter. UBS Group AG now owns 681,905 shares of the company’s stock worth $7,665,000 after acquiring an additional 299,166 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Elanco Animal Health by 210.9% in the 3rd quarter. Raymond James & Associates now owns 1,015,294 shares of the company’s stock worth $11,412,000 after acquiring an additional 688,779 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.