Elanco Animal Health (NYSE:ELAN) Given New $13.00 Price Target at Morgan Stanley

Elanco Animal Health (NYSE:ELAN) had its price target dropped by analysts at Morgan Stanley from $14.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 18.99% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price objective on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Barclays lowered their price objective on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Leerink Partners assumed coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price for the company. Finally, UBS Group initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Elanco Animal Health presently has an average rating of “Hold” and an average price target of $15.83.

Elanco Animal Health Trading Down 1.8 %

Shares of Elanco Animal Health stock opened at $10.93 on Wednesday. The firm has a market cap of $5.40 billion, a PE ratio of 27.31, a P/E/G ratio of 2.50 and a beta of 1.42. Elanco Animal Health has a 1 year low of $10.20 and a 1 year high of $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The stock has a fifty day moving average price of $11.72 and a 200-day moving average price of $13.05.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. Equities research analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock valued at $487,213,000 after acquiring an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Elanco Animal Health by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock valued at $216,774,000 after purchasing an additional 1,074,274 shares during the period. Shapiro Capital Management LLC grew its position in shares of Elanco Animal Health by 7.5% during the 4th quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company’s stock valued at $149,640,000 after purchasing an additional 862,900 shares in the last quarter. Magnetar Financial LLC increased its holdings in shares of Elanco Animal Health by 13.7% in the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after purchasing an additional 1,454,082 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Elanco Animal Health by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after purchasing an additional 4,361,799 shares during the period. 97.48% of the stock is currently 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.