Cleveland Research reaffirmed their hold rating on shares of Elanco Animal Health (NYSE:ELAN) in a research note published on Thursday morning, TipRanks reports.
A number of other equities research analysts have also recently weighed in on the stock. Goldman Sachs Group began coverage on shares of Elanco Animal Health in a research report on Monday, September 9th. They issued a positive rating for the company. They noted that the move was a valuation call. Zacks Investment Research cut shares of Elanco Animal Health from a hold rating to a sell rating in a research report on Friday, September 6th. UBS Group upgraded shares of Elanco Animal Health from a sell rating to a neutral rating and dropped their price objective for the company from $31.00 to $30.00 in a research note on Thursday, August 15th. Barclays assumed coverage on shares of Elanco Animal Health in a research note on Monday, September 23rd. They issued an overweight rating and a $36.00 price objective on the stock. Finally, Bank of America lowered shares of Elanco Animal Health from a buy rating to a neutral rating and set a $30.00 price objective on the stock. in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $33.98.
ELAN traded up $0.19 on Thursday, reaching $26.59. The company had a trading volume of 1,738,115 shares, compared to its average volume of 5,691,180. Elanco Animal Health has a 1 year low of $25.51 and a 1 year high of $35.48. The stock has a market capitalization of $9.63 billion and a PE ratio of 22.53. The company has a quick ratio of 1.71, a current ratio of 3.07 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $27.50 and a 200-day moving average price of $31.33.
Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Elanco Animal Health had a net margin of 4.69% and a return on equity of 7.83%. The firm had revenue of $781.60 million during the quarter, compared to analysts’ expectations of $781.49 million. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts expect that Elanco Animal Health will post 1.08 earnings per share for the current fiscal year.
In related news, Director R David Hoover bought 15,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $26.96 per share, for a total transaction of $404,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey N. Simmons bought 75,750 shares of the stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $26.55 per share, for a total transaction of $2,011,162.50. Following the completion of the transaction, the chief executive officer now directly owns 470,006 shares of the company’s stock, valued at approximately $12,478,659.30. The disclosure for this purchase can be found here. Insiders have acquired 112,780 shares of company stock worth $3,003,162 over the last 90 days. 0.04% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ELAN. Steward Partners Investment Advisory LLC acquired a new position in Elanco Animal Health during the second quarter worth about $32,000. Capital Investment Advisory Services LLC lifted its holdings in shares of Elanco Animal Health by 1,501.4% in the second quarter. Capital Investment Advisory Services LLC now owns 1,121 shares of the company’s stock valued at $36,000 after purchasing an additional 1,051 shares in the last quarter. Barrett Asset Management LLC purchased a new stake in shares of Elanco Animal Health in the first quarter valued at about $48,000. Valeo Financial Advisors LLC lifted its holdings in shares of Elanco Animal Health by 376.7% in the second quarter. Valeo Financial Advisors LLC now owns 1,430 shares of the company’s stock valued at $48,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Elanco Animal Health by 68.1% in the second quarter. Zions Bancorporation N.A. now owns 1,750 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter.
About Elanco Animal Health
Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.
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