Elanco Animal Health Incorporated (NYSE:ELAN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.71.

A number of brokerages have recently weighed in on ELAN. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. UBS Group began coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Barclays boosted their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th.

Elanco Animal Health Trading Down 1.6 %

NYSE:ELAN opened at $11.63 on Monday. The firm has a market capitalization of $5.75 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.03 and a beta of 1.41. Elanco Animal Health has a 52 week low of $11.40 and a 52 week high of $18.80. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $13.02 and a 200 day moving average of $14.19.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 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 the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, research analysts predict that Elanco Animal Health will post 0.92 earnings per share for the current year.

Hedge Funds Weigh In On Elanco Animal Health

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 65,303 shares during the last quarter. Atom Investors LP raised its holdings in Elanco Animal Health by 310.3% in the third quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after buying an additional 261,559 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in Elanco Animal Health in the second quarter worth about $839,000. Wellington Management Group LLP lifted its stake in shares of Elanco Animal Health by 19.2% in the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after buying an additional 646,522 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Elanco Animal Health during the third quarter valued at approximately $925,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

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.