Elanco Animal Health (NYSE:ELAN) Price Target Cut to $16.00 by Analysts at Piper Sandler

Elanco Animal Health (NYSE:ELAN) had its price target reduced by Piper Sandler from $19.00 to $16.00 in a report published on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Separately, Barclays lowered their price target on Elanco Animal Health from $23.00 to $21.00 and set an overweight rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of Moderate Buy and an average price target of $17.57.

Elanco Animal Health Stock Down 2.4 %

Shares of ELAN opened at $14.09 on Monday. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. Elanco Animal Health has a 12 month low of $8.52 and a 12 month high of $18.80. The stock’s 50 day moving average is $16.45 and its two-hundred day moving average is $15.71. The firm has a market cap of $6.96 billion, a P/E ratio of -5.32, a PEG ratio of 1.40 and a beta of 1.45.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $0.45 earnings per share. Elanco Animal Health’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts predict that Elanco Animal Health will post 0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William F. Doyle acquired 15,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $16.98 per share, with a total value of $254,700.00. Following the completion of the purchase, the director now owns 76,330 shares of the company’s stock, valued at approximately $1,296,083.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELAN. Jones Financial Companies Lllp purchased a new stake in shares of Elanco Animal Health in the 4th quarter valued at $37,000. Global Financial Private Client LLC purchased a new stake in shares of Elanco Animal Health in the 1st quarter valued at $72,000. Tower Research Capital LLC TRC raised its holdings in shares of Elanco Animal Health by 169.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock valued at $93,000 after buying an additional 3,906 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Elanco Animal Health in the 3rd quarter valued at $95,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Elanco Animal Health in the 1st quarter valued at $167,000. 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.