Barclays Trims Elanco Animal Health (NYSE:ELAN) Target Price to $19.00

Elanco Animal Health (NYSE:ELAN) had its price objective decreased by equities research analysts at Barclays from $22.00 to $19.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 52.12% from the stock’s current price.

Other analysts have also issued research reports about the stock. Piper Sandler decreased their target price on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.00.

Elanco Animal Health Stock Performance

ELAN traded up $0.08 on Monday, hitting $12.49. The company’s stock had a trading volume of 106,098 shares, compared to its average volume of 4,738,729. Elanco Animal Health has a 12 month low of $8.59 and a 12 month high of $18.80. The firm has a market cap of $6.17 billion, a P/E ratio of -4.90, a price-to-earnings-growth ratio of 1.32 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. The company’s 50 day simple moving average is $14.32 and its 200-day simple moving average is $14.79.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. Analysts forecast that Elanco Animal Health will post 0.91 EPS for the current year.

Insider Activity at Elanco Animal Health

In other news, Director Michael J. Harrington purchased 3,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the acquisition, the director now directly owns 81,094 shares in the company, valued at approximately $1,204,245.90. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Elanco Animal Health news, Director Michael J. Harrington acquired 3,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the transaction, the director now owns 81,094 shares in the company, valued at $1,204,245.90. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently modified their holdings of ELAN. Benjamin F. Edwards & Company Inc. boosted its position in shares of Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after purchasing an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Elanco Animal Health in the 3rd quarter worth about $29,000. ORG Partners LLC bought a new position in shares of Elanco Animal Health in the 2nd quarter worth about $31,000. nVerses Capital LLC purchased a new position in Elanco Animal Health during the 2nd quarter valued at about $32,000. Finally, Quarry LP bought a new stake in Elanco Animal Health during the second quarter worth about $40,000. 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.