Elanco Animal Health (NYSE:ELAN) Price Target Lowered to $13.00 at Morgan Stanley

Elanco Animal Health (NYSE:ELAN) had its price target decreased by analysts at Morgan Stanley from $14.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 15.20% from the company’s current price.

ELAN has been the subject of a number of other research reports. Leerink Partners assumed coverage on Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 target price for the company. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. UBS Group assumed coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Stifel Nicolaus dropped their price target on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Barclays lowered their target price on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.71.

Elanco Animal Health Trading Up 5.5 %

NYSE:ELAN traded up $0.59 on Wednesday, reaching $11.29. 1,582,670 shares of the stock traded hands, compared to its average volume of 4,816,554. Elanco Animal Health has a 1-year low of $10.20 and a 1-year high of $18.80. The company’s 50 day moving average is $11.75 and its 200-day moving average is $13.07. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 2.50 and a beta of 1.42. 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 (NYSE:ELAN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $0.08 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. Equities research analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Elanco Animal Health

A number of hedge funds have recently added to or reduced their stakes in ELAN. DDD Partners LLC acquired a new stake in shares of Elanco Animal Health during the fourth quarter worth about $5,974,000. Geode Capital Management LLC increased its stake in Elanco Animal Health by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after buying an additional 65,303 shares during the period. Atom Investors LP raised its holdings in Elanco Animal Health by 310.3% during the third quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after purchasing an additional 261,559 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Elanco Animal Health by 24.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock valued at $13,135,000 after buying an additional 209,734 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Elanco Animal Health by 19.2% in the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after purchasing an additional 646,522 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.