Elanco Animal Health (NYSE:ELAN) Shares Down 4.2% – Here’s What Happened

Elanco Animal Health Incorporated (NYSE:ELAN)’s share price dropped 4.2% during trading on Tuesday . The stock traded as low as $12.87 and last traded at $12.91. Approximately 385,655 shares traded hands during trading, a decline of 92% from the average daily volume of 4,712,007 shares. The stock had previously closed at $13.48.

Analysts Set New Price Targets

ELAN has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. 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 downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. Leerink Partners initiated coverage on Elanco Animal Health in a research report on Monday. They issued a “market perform” rating and a $14.00 price objective for the company. Finally, Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.75.

Elanco Animal Health Trading Down 1.8 %

The company has a market cap of $6.06 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.41 and a beta of 1.41. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $13.52 and a two-hundred day moving average price of $14.55.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Elanco Animal Health

A number of institutional investors have recently made changes to their positions in the stock. Commerce Bank grew its stake in shares of Elanco Animal Health by 2.2% during the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock worth $516,000 after purchasing an additional 741 shares during the period. 180 Wealth Advisors LLC grew its stake in Elanco Animal Health by 3.6% in the second quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company’s stock valued at $352,000 after acquiring an additional 893 shares during the period. HBK Sorce Advisory LLC grew its stake in Elanco Animal Health by 9.4% in the second quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company’s stock valued at $186,000 after acquiring an additional 1,107 shares during the period. Atomi Financial Group Inc. grew its stake in Elanco Animal Health by 11.1% in the second quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company’s stock valued at $177,000 after acquiring an additional 1,221 shares during the period. Finally, Keene & Associates Inc. grew its stake in Elanco Animal Health by 5.7% in the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock valued at $337,000 after acquiring an additional 1,240 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

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.