Elanco Animal Health (NYSE:ELAN) Sets New 52-Week High at $16.08

Elanco Animal Health Incorporated (NYSE:ELANGet Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $16.08 and last traded at $16.08, with a volume of 35097 shares. The stock had previously closed at $14.73.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Piper Sandler upped their price objective on Elanco Animal Health from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, November 13th. BNP Paribas assumed coverage on shares of Elanco Animal Health in a research note on Thursday, December 7th. They set an “outperform” rating and a $18.00 target price for the company. Stifel Nicolaus upgraded shares of Elanco Animal Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $20.00 in a research report on Friday, January 5th. Jefferies Financial Group initiated coverage on Elanco Animal Health in a report on Tuesday, December 19th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Morgan Stanley raised Elanco Animal Health from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.64.

Read Our Latest Analysis on Elanco Animal Health

Elanco Animal Health Stock Performance

The firm’s 50 day simple moving average is $14.21 and its 200-day simple moving average is $12.19. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 2.82.

Elanco Animal Health (NYSE:ELANGet Free Report) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. Elanco Animal Health had a positive return on equity of 6.99% and a negative net margin of 26.18%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $0.20 earnings per share. Elanco Animal Health’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Profund Advisors LLC grew its stake in shares of Elanco Animal Health by 10.3% in the 2nd quarter. Profund Advisors LLC now owns 66,643 shares of the company’s stock valued at $670,000 after buying an additional 6,224 shares in the last quarter. Raymond James & Associates increased its stake in shares of Elanco Animal Health by 210.9% during the 3rd quarter. Raymond James & Associates now owns 1,015,294 shares of the company’s stock worth $11,412,000 after purchasing an additional 688,779 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Elanco Animal Health by 836.1% during the 3rd quarter. Panagora Asset Management Inc. now owns 411,725 shares of the company’s stock valued at $4,628,000 after purchasing an additional 367,741 shares in the last quarter. H Partners Management LLC acquired a new stake in shares of Elanco Animal Health in the 2nd quarter valued at $34,456,000. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in Elanco Animal Health by 25.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 24,420 shares of the company’s stock worth $246,000 after purchasing an additional 4,948 shares in the last quarter. 95.29% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Company Profile

(Get Free Report)

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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