Morgan Stanley Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $14.00

Elanco Animal Health (NYSE:ELAN) had its price target cut by Morgan Stanley from $15.00 to $14.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued reports about the company. Barclays boosted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. UBS Group initiated 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. Leerink Partners assumed coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price on the stock. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus reduced their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Trading Down 3.5 %

Shares of ELAN stock opened at $12.03 on Wednesday. Elanco Animal Health has a fifty-two week low of $11.11 and a fifty-two week high of $18.80. 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 stock has a 50 day simple moving average of $12.19 and a two-hundred day simple moving average of $13.24. The company has a market cap of $5.95 billion, a P/E ratio of 30.08, a PEG ratio of 2.76 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.03 billion for 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%. Elanco Animal Health’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. Research analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in Elanco Animal Health by 125.1% during the second quarter. Envestnet Asset Management Inc. now owns 119,655 shares of the company’s stock worth $1,727,000 after buying an additional 66,503 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Elanco Animal Health in the second quarter valued at approximately $354,000. AQR Capital Management LLC raised its position in shares of Elanco Animal Health by 39.9% in the second quarter. AQR Capital Management LLC now owns 71,235 shares of the company’s stock valued at $1,028,000 after purchasing an additional 20,318 shares during the period. Creative Planning boosted its holdings in Elanco Animal Health by 7.9% in the 2nd quarter. Creative Planning now owns 52,177 shares of the company’s stock worth $753,000 after buying an additional 3,801 shares during the period. Finally, Quarry LP bought a new position in Elanco Animal Health in the 2nd quarter worth approximately $40,000. 97.48% of the stock is owned by institutional investors.

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.