Analysts Set Elanco Animal Health Incorporated (NYSE:ELAN) Price Target at $17.57

Elanco Animal Health Incorporated (NYSE:ELAN) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $17.57.

Several analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Piper Sandler decreased their target price on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 1st.

Insider Buying and Selling

In related news, CEO Jeffrey N. Simmons bought 100,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the transaction, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jeffrey N. Simmons bought 100,000 shares of Elanco Animal Health stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Harrington purchased 3,500 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the transaction, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elanco Animal Health

Several institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Elanco Animal Health during the 2nd quarter valued at $781,000. Dana Investment Advisors Inc. increased its position in Elanco Animal Health by 6.2% during the 2nd quarter. Dana Investment Advisors Inc. now owns 252,019 shares of the company’s stock valued at $3,637,000 after buying an additional 14,653 shares in the last quarter. Truist Financial Corp raised its stake in Elanco Animal Health by 47.7% in the second quarter. Truist Financial Corp now owns 62,964 shares of the company’s stock valued at $909,000 after buying an additional 20,341 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in Elanco Animal Health by 1.3% in the second quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company’s stock worth $42,445,000 after acquiring an additional 36,944 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Elanco Animal Health during the second quarter worth about $40,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $14.76 on Friday. Elanco Animal Health has a 52 week low of $8.52 and a 52 week high of $18.80. The company has a market capitalization of $7.29 billion, a PE ratio of -5.57, a price-to-earnings-growth ratio of 1.50 and a beta of 1.40. The stock’s fifty day moving average is $13.84 and its two-hundred day moving average is $15.25. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts expect that Elanco Animal Health will post 0.91 earnings per share for the current year.

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.