Elanco Animal Health (NYSE:ELAN) Shares Down 4.2% – Here’s What Happened

Elanco Animal Health Incorporated (NYSE:ELAN)’s stock price dropped 4.2% during trading on Tuesday . The company traded as low as $12.87 and last traded at $12.91. Approximately 385,655 shares changed hands during trading, a decline of 92% from the average daily volume of 4,712,007 shares. The stock had previously closed at $13.48.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELAN. Morgan Stanley downgraded 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 Partners began coverage on shares of Elanco Animal Health in a report on Monday. They issued a “market perform” rating and a $14.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday. Finally, Barclays upped their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Hold” and an average price target of $16.75.

Elanco Animal Health Stock Performance

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 stock has a 50-day moving average of $13.55 and a 200 day moving average of $14.59. The stock has a market cap of $6.19 billion, a PE ratio of 30.75, a P/E/G ratio of 1.38 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Institutional Trading of Elanco Animal Health

A number of large investors have recently bought and sold shares of ELAN. Davidson Kempner Capital Management LP purchased a new position in Elanco Animal Health during the second quarter worth $839,000. Atom Investors LP raised its holdings in shares of Elanco Animal Health by 310.3% during the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after buying an additional 261,559 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Elanco Animal Health during the 2nd quarter worth approximately $55,599,000. XTX Topco Ltd acquired a new stake in shares of Elanco Animal Health during the 2nd quarter valued at approximately $935,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Elanco Animal Health in the 3rd quarter valued at about $572,000. Institutional investors and hedge funds 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.