Elanco Animal Health (NYSE:ELAN) Reaches New 1-Year Low on Disappointing Earnings

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) hit a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $10.65 and last traded at $10.35, with a volume of 9619 shares traded. The stock had previously closed at $11.11.

The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 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 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of 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 cut their price target on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Morgan Stanley decreased their price objective on 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 Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Leerink Partners began coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

Institutional Investors Weigh In On Elanco Animal Health

Large investors have recently made changes to their positions in the company. Commerce Bank increased its holdings in shares of Elanco Animal Health by 2.2% during the 3rd quarter. Commerce Bank now owns 35,114 shares of the company’s stock valued at $516,000 after acquiring an additional 741 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Elanco Animal Health by 2.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock valued at $524,000 after acquiring an additional 900 shares during the period. Arizona State Retirement System grew its position in shares of Elanco Animal Health by 0.8% in the fourth quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,166 shares during the last quarter. MTM Investment Management LLC increased its stake in shares of Elanco Animal Health by 9.3% in the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock worth $172,000 after purchasing an additional 1,200 shares during the period. Finally, M&T Bank Corp lifted its position in shares of Elanco Animal Health by 5.9% during the 3rd quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock worth $388,000 after purchasing an additional 1,464 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

The stock has a market cap of $5.29 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.50 and a beta of 1.42. The firm has a 50 day moving average of $11.75 and a two-hundred day moving average of $13.07. 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 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.