Elanco Animal Health (NYSE:ELAN) Reaches New 52-Week Low on Analyst Downgrade

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) reached a new 52-week low during mid-day trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $20.00 to $18.00. Stifel Nicolaus currently has a buy rating on the stock. Elanco Animal Health traded as low as $11.35 and last traded at $11.39, with a volume of 1146654 shares traded. The stock had previously closed at $11.80.

A number of other brokerages have also recently issued reports on ELAN. UBS Group started coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Leerink Partners assumed coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 target price on the stock. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. Finally, Barclays upped their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.43.

Institutional Investors Weigh In On Elanco Animal Health

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Elanco Animal Health by 0.8% during the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after buying an additional 65,303 shares during the last quarter. Atom Investors LP grew its position in shares of Elanco Animal Health by 310.3% during the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after acquiring an additional 261,559 shares during the period. Davidson Kempner Capital Management LP purchased a new stake in shares of Elanco Animal Health during the 2nd quarter worth approximately $839,000. Wellington Management Group LLP raised its holdings in shares of Elanco Animal Health by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after purchasing an additional 646,522 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Elanco Animal Health by 14.0% in the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock valued at $5,349,000 after purchasing an additional 45,795 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The firm has a fifty day simple moving average of $12.71 and a two-hundred day simple moving average of $13.55. The firm has a market capitalization of $5.70 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current fiscal year.

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.