Stifel Nicolaus Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $18.00

Elanco Animal Health (NYSE:ELAN) had its price objective dropped by investment analysts at Stifel Nicolaus from $20.00 to $18.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 56.11% from the company’s current price.

A number of other research firms also recently issued reports on ELAN. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Barclays boosted their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. UBS Group assumed coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. 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 target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.43.

Elanco Animal Health Trading Down 2.3 %

Shares of ELAN opened at $11.53 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The company has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $13.55. Elanco Animal Health has a 1 year low of $11.28 and a 1 year high of $18.80. The firm has a market cap of $5.70 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities analysts expect that Elanco Animal Health will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of Elanco Animal Health

A number of hedge funds and other institutional investors have recently bought and sold shares of ELAN. JPMorgan Chase & Co. grew its holdings in shares of Elanco Animal Health by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after purchasing an additional 4,361,799 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Elanco Animal Health in the 2nd quarter worth about $55,599,000. Magnetar Financial LLC increased its position in shares of Elanco Animal Health by 61.2% during the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after acquiring an additional 3,164,350 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Elanco Animal Health during the third quarter valued at approximately $19,708,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Elanco Animal Health by 363.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after purchasing an additional 1,214,123 shares during the period. 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.