Elanco Animal Health (NYSE:ELAN) Sets New 52-Week Low – What’s Next?

Elanco Animal Health Incorporated (NYSE:ELAN) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.20 and last traded at $10.19, with a volume of 1667596 shares trading hands. The stock had previously closed at $10.80.

Analyst Upgrades and Downgrades

ELAN has been the subject of several research analyst reports. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus dropped their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Piper Sandler decreased their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Morgan Stanley cut their target price on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, Leerink Partners initiated coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health has a consensus rating of “Hold” and a consensus target price of $15.17.

Elanco Animal Health Stock Performance

The company has a market capitalization of $5.10 billion, a PE ratio of 25.79, a PEG ratio of 2.50 and a beta of 1.44. 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 company has a 50-day moving average price of $11.52 and a two-hundred day moving average price of $12.81.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the purchase, the director now directly owns 111,459 shares of the company’s stock, valued at $1,136,881.80. The trade was a 9.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Elanco Animal Health

Several institutional investors have recently modified their holdings of ELAN. Farther Finance Advisors LLC increased its position in shares of Elanco Animal Health by 158.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock valued at $49,000 after purchasing an additional 2,044 shares during the last quarter. Atria Investments Inc increased its position in shares of Elanco Animal Health by 57.9% during the 3rd quarter. Atria Investments Inc now owns 56,613 shares of the company’s stock valued at $832,000 after purchasing an additional 20,760 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Elanco Animal Health by 89.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock valued at $50,000 after purchasing an additional 1,601 shares during the last quarter. Versor Investments LP bought a new position in shares of Elanco Animal Health during the 3rd quarter valued at about $380,000. Finally, Aigen Investment Management LP bought a new position in shares of Elanco Animal Health during the 3rd quarter valued at about $173,000. 97.48% of the stock is currently owned by institutional investors.

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.