Elanco Animal Health (NYSE:ELAN) Coverage Initiated at Leerink Partners

Leerink Partners initiated coverage on shares of Elanco Animal Health (NYSE:ELAN) in a report published on Monday, Marketbeat reports. The brokerage issued a market perform rating and a $14.00 price objective on the stock.

Several other research analysts have also recently weighed in on ELAN. Barclays upped their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their target price 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 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Elanco Animal Health has an average rating of “Hold” and an average price target of $16.75.

Elanco Animal Health Price Performance

ELAN opened at $13.48 on Monday. The company has a fifty day moving average price of $13.57 and a two-hundred day moving average price of $14.61. The firm has a market capitalization of $6.66 billion, a PE ratio of 32.55, a P/E/G ratio of 1.38 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 debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. As a group, analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Elanco Animal Health

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its position in Elanco Animal Health by 34.6% during the 1st quarter. Tidal Investments LLC now owns 22,575 shares of the company’s stock worth $368,000 after purchasing an additional 5,797 shares in the last quarter. Comerica Bank lifted its stake in shares of Elanco Animal Health by 272.6% in the 1st quarter. Comerica Bank now owns 11,716 shares of the company’s stock valued at $191,000 after acquiring an additional 8,572 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Elanco Animal Health during the 1st quarter valued at $213,000. Clarus Wealth Advisors bought a new stake in Elanco Animal Health during the 2nd quarter worth $449,000. Finally, SG Americas Securities LLC acquired a new position in Elanco Animal Health in the 2nd quarter worth about $401,000. Institutional investors and hedge funds 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.