Elanco Animal Health Incorporated (NYSE:ELAN) Receives Average Rating of “Hold” from Brokerages

Shares of Elanco Animal Health Incorporated (NYSE:ELANGet Rating) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $26.00.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of Elanco Animal Health from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $24.00 in a report on Tuesday. Piper Sandler assumed coverage on shares of Elanco Animal Health in a report on Monday, July 11th. They issued a “neutral” rating and a $22.00 price target on the stock. The Goldman Sachs Group lowered shares of Elanco Animal Health from a “buy” rating to a “sell” rating and lowered their price target for the company from $32.00 to $19.00 in a report on Thursday, July 21st. Morgan Stanley reduced their target price on shares of Elanco Animal Health to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 17th. Finally, Stifel Nicolaus reduced their target price on shares of Elanco Animal Health from $30.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, June 24th.

Elanco Animal Health Trading Down 3.6 %

Shares of ELAN stock opened at $19.36 on Tuesday. Elanco Animal Health has a 1 year low of $18.64 and a 1 year high of $35.00. The firm’s fifty day simple moving average is $20.45 and its 200 day simple moving average is $23.73. The firm has a market capitalization of $9.18 billion, a P/E ratio of -55.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.79. The company has a current ratio of 2.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.84.

Elanco Animal Health (NYSE:ELANGet Rating) last announced its earnings results on Monday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.11. Elanco Animal Health had a negative net margin of 3.77% and a positive return on equity of 7.40%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Elanco Animal Health’s revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Elanco Animal Health will post 1.1 EPS for the current year.

Insider Buying and Selling

In related news, Director R David Hoover purchased 10,000 shares of Elanco Animal Health stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average price of $23.33 per share, for a total transaction of $233,300.00. Following the transaction, the director now directly owns 125,000 shares in the company, valued at $2,916,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Herold Advisors Inc. bought a new stake in Elanco Animal Health during the 1st quarter worth about $26,000. CKW Financial Group bought a new stake in Elanco Animal Health during the 4th quarter worth about $30,000. Tcwp LLC bought a new stake in Elanco Animal Health during the 1st quarter worth about $29,000. IndexIQ Advisors LLC bought a new stake in Elanco Animal Health during the 1st quarter worth about $32,000. Finally, Benjamin Edwards Inc. raised its holdings in Elanco Animal Health by 157.1% during the 4th quarter. Benjamin Edwards Inc. now owns 1,427 shares of the company’s stock worth $40,000 after purchasing an additional 872 shares during the last quarter.

About Elanco Animal Health

(Get Rating)

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.

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