Analysts Set Elanco Animal Health Incorporated (NYSE:ELAN) PT at $17.14

Elanco Animal Health Incorporated (NYSE:ELAN) has been given an average recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $17.14.

ELAN has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $13.36 on Thursday. The business has a 50-day simple moving average of $13.70 and a 200 day simple moving average of $14.76. Elanco Animal Health has a 52 week low of $11.40 and a 52 week high of $18.80. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 1.40 and a beta of 1.41. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last announced its 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 net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $0.18 earnings per share. Elanco Animal Health’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ELAN. Canada Pension Plan Investment Board purchased a new stake in Elanco Animal Health during the 2nd quarter valued at about $55,599,000. Magnetar Financial LLC lifted its position in Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after purchasing an additional 3,164,350 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Elanco Animal Health during the third quarter valued at approximately $19,708,000. Assenagon Asset Management S.A. grew its holdings in shares of Elanco Animal Health by 363.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after purchasing an additional 1,214,123 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in Elanco Animal Health during the 2nd quarter valued at $16,043,000. 97.48% of the stock is owned by institutional investors.

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.