Analysts Set Elanco Animal Health Incorporated (NYSE:ELAN) Target Price at $16.71

Elanco Animal Health Incorporated (NYSE:ELAN) has received an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.71.

ELAN has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. The Goldman Sachs Group boosted their price target on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research note on Tuesday, February 27th. TheStreet raised shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. Barclays lifted their target price on shares of Elanco Animal Health from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus upgraded Elanco Animal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $20.00 in a research note on Friday, January 5th.

Elanco Animal Health Stock Down 1.6 %

ELAN stock opened at $13.65 on Wednesday. The firm has a market cap of $6.73 billion, a PE ratio of -5.46, a PEG ratio of 1.51 and a beta of 1.29. Elanco Animal Health has a one year low of $7.88 and a one year high of $16.88. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75. The firm’s 50 day moving average price is $15.81 and its 200-day moving average price is $13.64.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Monday, February 26th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. Elanco Animal Health’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current year.

Insider Transactions at Elanco Animal Health

In other news, Director R David Hoover purchased 20,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the acquisition, the director now directly owns 185,000 shares of the company’s stock, valued at approximately $2,985,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Shapiro Capital Management LLC increased its position in shares of Elanco Animal Health by 1,763.6% in the fourth quarter. Shapiro Capital Management LLC now owns 13,522,352 shares of the company’s stock valued at $165,243,000 after buying an additional 12,796,752 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Elanco Animal Health by 211.3% during the first quarter. JPMorgan Chase & Co. now owns 11,073,913 shares of the company’s stock worth $104,095,000 after buying an additional 7,516,372 shares in the last quarter. Norges Bank bought a new stake in shares of Elanco Animal Health in the fourth quarter worth $82,309,000. Holocene Advisors LP acquired a new stake in Elanco Animal Health in the second quarter valued at $49,998,000. Finally, Balyasny Asset Management L.P. boosted its stake in Elanco Animal Health by 698,280.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 4,085,527 shares of the company’s stock valued at $38,404,000 after acquiring an additional 4,084,942 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

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.