Piper Sandler Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $12.00

Elanco Animal Health (NYSE:ELAN) had its price target reduced by Piper Sandler from $16.00 to $12.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. UBS Group lowered their price target on 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. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Morgan Stanley reduced their target price on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Barclays reduced their target price on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Leerink Partners assumed coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.17.

Elanco Animal Health Trading Up 2.7 %

Shares of NYSE ELAN opened at $11.12 on Thursday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 2.50 and a beta of 1.44. The business has a 50 day simple moving average of $11.62 and a 200 day simple moving average of $12.90. Elanco Animal Health has a 52 week low of $10.20 and a 52 week high of $18.80. 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 (NYSE:ELAN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. On average, research analysts predict that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ELAN. CoreCap Advisors LLC acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $29,000. AM Squared Ltd acquired a new position in shares of Elanco Animal Health during the third quarter worth approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Elanco Animal Health during the third quarter worth approximately $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Elanco Animal Health by 158.7% during the third quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock worth $49,000 after buying an additional 2,044 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Elanco Animal Health by 89.9% during the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock worth $50,000 after buying an additional 1,601 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.