Elanco Animal Health (NYSE:ELAN) Announces Earnings Results

Elanco Animal Health (NYSE:ELAN) issued its quarterly earnings results on Wednesday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08, Briefing.com reports. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share.

Elanco Animal Health Stock Up 2.2 %

Shares of ELAN stock traded up $0.38 during trading hours on Thursday, hitting $17.27. 4,695,852 shares of the company were exchanged, compared to its average volume of 4,551,779. The company has a market capitalization of $8.53 billion, a PE ratio of -6.79, a PEG ratio of 1.42 and a beta of 1.34. Elanco Animal Health has a 52 week low of $7.88 and a 52 week high of $17.43. The business has a 50 day moving average of $14.98 and a two-hundred day moving average of $14.04. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92.

Analysts Set New Price Targets

ELAN has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Barclays raised their target price on Elanco Animal Health from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday. TheStreet raised Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Moderate Buy” and an average target price of $17.29.

Insider Buying and Selling

In other news, Director R David Hoover purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the completion of the acquisition, the director now directly owns 185,000 shares in the company, valued at approximately $2,985,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.57% 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.