Barclays Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $19.00

Elanco Animal Health (NYSE:ELAN) had its target price lowered by Barclays from $20.00 to $19.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on ELAN. Leerink Partners started coverage on Elanco Animal Health in a research note on Monday, December 2nd. They set a “market perform” rating and a $14.00 target price for the company. Stifel Nicolaus decreased their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. UBS Group started coverage on Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley decreased their price target on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.57.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $11.15 on Wednesday. The firm has a market capitalization of $5.51 billion, a PE ratio of 27.88, a P/E/G ratio of 2.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. Elanco Animal Health has a 1-year low of $10.20 and a 1-year high of $18.80. The business’s fifty day moving average price is $11.74 and its two-hundred day moving average price is $13.06.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 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 $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $0.08 earnings per share. Elanco Animal Health’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts expect that Elanco Animal Health will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Elanco Animal Health by 1,153.6% in the 4th quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after acquiring an additional 37,022,891 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after acquiring an additional 4,361,799 shares in the last quarter. Norges Bank purchased a new stake in Elanco Animal Health in the 4th quarter worth about $47,424,000. Brandes Investment Partners LP lifted its stake in Elanco Animal Health by 66.9% in the 4th quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock worth $69,405,000 after acquiring an additional 2,296,691 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in Elanco Animal Health in the 4th quarter worth about $20,396,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.