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

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.71.

ELAN has been the topic of several analyst reports. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. UBS Group began coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Leerink Partners started coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target for the company.

Institutional Investors Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELAN. Franklin Resources Inc. lifted its position in Elanco Animal Health by 14.0% during the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock valued at $5,349,000 after buying an additional 45,795 shares during the period. Tidal Investments LLC lifted its position in Elanco Animal Health by 25.5% during the 3rd quarter. Tidal Investments LLC now owns 84,578 shares of the company’s stock valued at $1,242,000 after acquiring an additional 17,206 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Elanco Animal Health during the third quarter worth about $35,000. Geode Capital Management LLC grew its holdings in Elanco Animal Health by 0.8% in the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after purchasing an additional 65,303 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Elanco Animal Health by 5.9% during the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after purchasing an additional 1,464 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Down 1.6 %

Shares of NYSE:ELAN opened at $11.63 on Monday. The stock has a market capitalization of $5.75 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The stock’s 50-day moving average price is $12.96 and its 200-day moving average price is $14.12. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health has a 12-month low of $11.40 and a 12-month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $0.18 EPS. Elanco Animal Health’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Elanco Animal Health will post 0.92 earnings per share for the current year.

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.