Elanco Animal Health (NYSE:ELAN) Price Target Lowered to $14.00 at Morgan Stanley

Elanco Animal Health (NYSE:ELAN) had its target price decreased by Morgan Stanley from $15.00 to $14.00 in a research note released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on ELAN. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Stifel Nicolaus decreased their price target on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays upped their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group initiated coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price target for the company. Finally, Leerink Partners initiated coverage on Elanco Animal Health in a research report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.29.

Elanco Animal Health Stock Down 3.5 %

ELAN stock opened at $12.03 on Wednesday. The company’s 50 day moving average is $12.19 and its 200 day moving average is $13.24. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.76 and a beta of 1.41. 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 has a 1-year low of $11.11 and a 1-year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Commerce Bank grew its stake in Elanco Animal Health by 2.2% in 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. MTM Investment Management LLC boosted its holdings in shares of Elanco Animal Health by 9.3% during the 4th quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock valued at $172,000 after buying an additional 1,200 shares in the last quarter. Keene & Associates Inc. increased its stake in shares of Elanco Animal Health by 5.7% in the 3rd quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock worth $337,000 after acquiring an additional 1,240 shares in the last quarter. M&T Bank Corp lifted its position in Elanco Animal Health by 5.9% during the 3rd quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after acquiring an additional 1,464 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in 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 acquiring an additional 1,601 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

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.