Elanco Animal Health (NYSE:ELAN) Hits New 52-Week Low – Here’s What Happened

Elanco Animal Health Incorporated (NYSE:ELAN)’s share price reached a new 52-week low on Saturday . The stock traded as low as $10.77 and last traded at $11.26, with a volume of 7136767 shares trading hands. The stock had previously closed at $11.66.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ELAN shares. Morgan Stanley cut their price target on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Leerink Partners initiated 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. Barclays lifted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Stifel Nicolaus lowered their price target on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, UBS Group began coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.29.

Elanco Animal Health Stock Performance

The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 2.69 and a beta of 1.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The firm has a 50-day simple moving average of $11.94 and a two-hundred day simple moving average of $13.15.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position 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 valued at $487,213,000 after purchasing an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Elanco Animal Health by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock valued at $216,774,000 after acquiring an additional 1,074,274 shares in the last quarter. Magnetar Financial LLC lifted its stake in Elanco Animal Health by 13.7% in the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after acquiring an additional 1,454,082 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Elanco Animal Health by 76.6% during 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. Finally, State Street Corp increased its position in shares of Elanco Animal Health by 2.6% in the 3rd quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after purchasing an additional 255,084 shares during the last quarter. Hedge funds and other institutional investors 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.