Elanco Animal Health (NYSE:ELAN) Coverage Initiated at Leerink Partners

Leerink Partners began coverage on shares of Elanco Animal Health (NYSE:ELAN) in a research note issued on Monday,Briefing.com Automated Import reports. The firm set a “market perform” rating and a $14.00 price target on the stock. Leerink Partners’ price target would indicate a potential upside of 5.98% from the company’s current price.

A number of other equities research analysts also recently commented on ELAN. Barclays lifted their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley cut 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 report on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elanco Animal Health has an average rating of “Hold” and a consensus target price of $16.75.

Elanco Animal Health Trading Up 0.6 %

Shares of ELAN stock opened at $13.21 on Monday. Elanco Animal Health has a twelve month low of $11.40 and a twelve month high of $18.80. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 1.38 and a beta of 1.41. The firm has a 50-day moving average price of $13.57 and a 200 day moving average price of $14.63. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently modified their holdings of ELAN. State Street Corp lifted its stake in shares of Elanco Animal Health by 2.6% during the third quarter. State Street Corp now owns 9,912,693 shares of the company’s stock worth $145,617,000 after purchasing an additional 255,084 shares in the last quarter. Magnetar Financial LLC boosted its holdings in Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after acquiring an additional 3,164,350 shares during the period. Geode Capital Management LLC grew its position in Elanco Animal Health by 0.8% in the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after acquiring an additional 65,303 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Elanco Animal Health by 6.6% during the third quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock valued at $93,803,000 after purchasing an additional 394,921 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in 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 buying an additional 646,522 shares in the last quarter. 97.48% of the stock is 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.