Elanco Animal Health (NYSE:ELAN) Given New $14.00 Price Target at Morgan Stanley

Elanco Animal Health (NYSE:ELAN) had its price objective decreased by Morgan Stanley from $15.00 to $14.00 in a report issued on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts have also recently issued reports on ELAN. Stifel Nicolaus cut their target price on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays raised their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Leerink Partners began coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price on the stock. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, UBS Group began coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Trading Up 1.0 %

NYSE ELAN opened at $12.30 on Wednesday. The stock’s 50-day simple moving average is $12.24 and its two-hundred day simple moving average is $13.25. Elanco Animal Health has a twelve month low of $11.11 and a twelve month 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 market capitalization of $6.08 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.57 and a beta of 1.41.

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 analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts forecast that Elanco Animal Health will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

Several large investors have recently made changes to their positions in ELAN. ORG Wealth Partners LLC purchased a new position in shares of Elanco Animal Health during the third quarter valued at approximately $29,000. AM Squared Ltd purchased a new position in shares of Elanco Animal Health during the third quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Elanco Animal Health during the third quarter valued at approximately $35,000. Quarry LP purchased a new position in Elanco Animal Health in the 2nd quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC lifted its position in Elanco Animal Health by 158.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock valued at $49,000 after acquiring an additional 2,044 shares in the last quarter. 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.