Elanco Animal Health (NYSE:ELAN) Downgraded by Morgan Stanley

Morgan Stanley downgraded shares of Elanco Animal Health (NYSE:ELAN) from an overweight rating to an equal weight rating in a report issued on Thursday, MarketBeat reports. They currently have $15.00 price target on the stock, down from their prior price target of $17.00.

Other equities analysts have also issued reports about the company. Barclays dropped their price target on Elanco Animal Health from $23.00 to $21.00 and set an overweight rating for the company in a research note on Friday, June 28th. Piper Sandler lowered their target price on Elanco Animal Health from $19.00 to $16.00 and set a neutral rating for the company in a research report on Monday, July 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $17.29.

Elanco Animal Health Trading Down 6.6 %

Elanco Animal Health stock opened at $14.07 on Thursday. Elanco Animal Health has a 1 year low of $8.52 and a 1 year high of $18.80. The firm’s 50 day moving average price is $13.95 and its 200-day moving average price is $15.14. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The stock has a market cap of $6.95 billion, a P/E ratio of -5.31, a PEG ratio of 1.44 and a beta of 1.40.

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

Insider Transactions at Elanco Animal Health

In other news, CEO Jeffrey N. Simmons bought 100,000 shares of Elanco Animal Health stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Elanco Animal Health news, CEO Jeffrey N. Simmons bought 100,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the purchase, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Harrington purchased 3,500 shares of Elanco Animal Health stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the acquisition, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The disclosure for this purchase can be found here. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Elanco Animal Health

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new stake in Elanco Animal Health in the 4th quarter valued at about $913,000. Norges Bank purchased a new stake in shares of Elanco Animal Health in the fourth quarter valued at approximately $62,510,000. UBS Group AG grew its stake in Elanco Animal Health by 63.8% in the fourth quarter. UBS Group AG now owns 1,117,196 shares of the company’s stock worth $16,646,000 after purchasing an additional 435,291 shares in the last quarter. Commerce Bank increased its holdings in Elanco Animal Health by 3.8% during the 4th quarter. Commerce Bank now owns 33,665 shares of the company’s stock worth $502,000 after purchasing an additional 1,223 shares during the period. Finally, Primecap Management Co. CA raised its position in Elanco Animal Health by 2.9% during the 4th quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock valued at $753,945,000 after purchasing an additional 1,431,665 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other 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.