Elanco Animal Health (NYSE:ELAN) Hits New 1-Year Low – What’s Next?

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.75 and last traded at $9.77, with a volume of 4155953 shares traded. The stock had previously closed at $10.77.

Analysts Set New Price Targets

A number of analysts have commented on ELAN shares. Barclays lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Piper Sandler decreased their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Stifel Nicolaus cut their price target on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. UBS Group decreased their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley dropped their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and a consensus target price of $15.17.

Elanco Animal Health Stock Performance

The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $11.14 and a two-hundred day moving average of $12.35. The company has a market capitalization of $4.79 billion, a PE ratio of 24.19, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Lawrence Erik Kurzius acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the transaction, the director now directly owns 111,459 shares of the company’s stock, valued at $1,136,881.80. This represents a 9.86 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Elanco Animal Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in Elanco Animal Health during the third quarter valued at $35,000. CoreCap Advisors LLC acquired a new position in shares of Elanco Animal Health during the 4th quarter worth about $29,000. Jones Financial Companies Lllp lifted its stake in Elanco Animal Health by 95.6% in the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock valued at $51,000 after buying an additional 2,059 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company’s stock worth $46,000 after buying an additional 1,740 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Elanco Animal Health by 221.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company’s stock worth $60,000 after buying an additional 3,411 shares in the last quarter. 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.