Elanco Animal Health (NYSE:ELAN) PT Raised to $22.00 at Barclays

Elanco Animal Health (NYSE:ELAN) had its target price boosted by equities researchers at Barclays from $21.00 to $22.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 55.70% from the stock’s previous close.

A number of other research firms also recently issued reports on ELAN. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday. Piper Sandler reduced their price objective 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. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $17.00 to $15.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.43.

Elanco Animal Health Price Performance

Shares of Elanco Animal Health stock traded up $0.06 on Monday, hitting $14.13. The company had a trading volume of 1,989,030 shares, compared to its average volume of 4,813,587. Elanco Animal Health has a 52 week low of $8.52 and a 52 week high of $18.80. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The company has a market cap of $6.98 billion, a PE ratio of -5.33, a PEG ratio of 1.44 and a beta of 1.40. The business has a 50-day simple moving average of $13.95 and a 200-day simple moving average of $15.14.

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

Insider Buying and Selling at Elanco Animal Health

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ELAN. Benjamin F. Edwards & Company Inc. lifted its position in Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after acquiring an additional 1,361 shares during the last quarter. ORG Partners LLC acquired a new position in Elanco Animal Health in the 2nd quarter valued at $31,000. nVerses Capital LLC bought a new position in Elanco Animal Health during the 2nd quarter worth $32,000. Jones Financial Companies Lllp acquired a new stake in shares of Elanco Animal Health during the fourth quarter worth $37,000. Finally, Quarry LP acquired a new position in shares of Elanco Animal Health in the second quarter valued at about $40,000. 97.48% of the stock is currently owned by institutional investors.

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.