Elanco Animal Health (NYSE:ELAN) Trading Down 6.4% – Time to Sell?

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) were down 6.4% on Friday . The company traded as low as $11.35 and last traded at $10.92. Approximately 291,906 shares changed hands during trading, a decline of 93% from the average daily volume of 4,436,308 shares. The stock had previously closed at $11.66.

Analyst Ratings Changes

ELAN has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Leerink Partners started coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. Barclays boosted their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus decreased their price target on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group assumed coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Elanco Animal Health has a consensus rating of “Hold” and a consensus price target of $16.29.

Elanco Animal Health Stock Down 4.1 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The company has a market capitalization of $5.53 billion, a PE ratio of 27.99, a P/E/G ratio of 2.69 and a beta of 1.42. The company’s 50-day moving average is $11.96 and its 200 day moving average is $13.16.

Hedge Funds Weigh In On Elanco Animal Health

A number of hedge funds have recently bought and sold shares of ELAN. FMR LLC raised its holdings in shares of Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock valued at $487,213,000 after purchasing an additional 37,022,891 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Elanco Animal Health by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock valued at $216,774,000 after buying an additional 1,074,274 shares during the last quarter. Magnetar Financial LLC boosted its stake in shares of Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after buying an additional 1,454,082 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after buying an additional 4,361,799 shares during the last quarter. Finally, State Street Corp increased its position in Elanco Animal Health by 2.6% during the third quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after acquiring an additional 255,084 shares during the last quarter. Hedge funds and other institutional investors own 97.48% 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.