Elanco Animal Health (NYSE:ELAN) Price Target Raised to $22.00 at Barclays

Elanco Animal Health (NYSE:ELAN) had its price objective increased by Barclays from $21.00 to $22.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued reports about the company. Piper Sandler cut their target price on Elanco Animal Health from $19.00 to $16.00 and set a neutral rating on the stock in a research note on Monday, July 1st. Morgan Stanley downgraded Elanco Animal Health from an overweight rating to an equal weight rating and reduced their price objective for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Stifel Nicolaus restated a buy rating and set a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $17.43.

Elanco Animal Health Trading Up 0.4 %

NYSE ELAN opened at $13.72 on Monday. Elanco Animal Health has a 12 month low of $8.52 and a 12 month high of $18.80. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average price is $14.02 and its 200-day moving average price is $15.09. The stock has a market cap of $6.78 billion, a P/E ratio of -5.18, a P/E/G ratio of 1.33 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. Elanco Animal Health’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. As a group, equities analysts forecast that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Insider Activity at Elanco Animal Health

In other news, CEO Jeffrey N. Simmons purchased 100,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the purchase, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Elanco Animal Health news, CEO Jeffrey N. Simmons purchased 100,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the purchase, the chief executive officer now directly owns 145,000 shares of the company’s stock, valued at approximately $1,886,450. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Harrington acquired 3,500 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $14.85 per share, with a total value of $51,975.00. Following the transaction, the director now owns 81,094 shares in the company, valued at $1,204,245.90. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Elanco Animal Health in the 4th quarter worth approximately $62,510,000. Canada Pension Plan Investment Board bought a new position in shares of Elanco Animal Health in the second quarter worth approximately $55,599,000. Magnetar Financial LLC increased its stake in shares of Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after purchasing an additional 3,164,350 shares in the last quarter. Wolf Hill Capital Management LP bought a new stake in shares of Elanco Animal Health during the 4th quarter valued at $20,683,000. Finally, Great Lakes Advisors LLC bought a new position in Elanco Animal Health in the 2nd quarter worth $16,043,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.