Elanco Animal Health (NYSE:ELAN) Hits New 1-Year Low After Analyst Downgrade

Elanco Animal Health Incorporated (NYSE:ELAN)’s share price reached a new 52-week low on Wednesday after Stifel Nicolaus lowered their price target on the stock from $20.00 to $18.00. Stifel Nicolaus currently has a buy rating on the stock. Elanco Animal Health traded as low as $11.35 and last traded at $11.39, with a volume of 1146654 shares traded. The stock had previously closed at $11.80.

ELAN has been the topic of a number of other research reports. Morgan Stanley lowered 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 research report on Thursday, September 19th. Barclays lifted their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. UBS Group initiated coverage on shares of Elanco Animal Health in a research report on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective on the stock. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Leerink Partners began coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.43.

Institutional Trading of Elanco Animal Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position 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 purchasing an additional 65,303 shares during the last quarter. Atom Investors LP raised its holdings in shares of Elanco Animal Health by 310.3% in the third quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after buying an additional 261,559 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in Elanco Animal Health during the 2nd quarter valued at approximately $839,000. Wellington Management Group LLP boosted its holdings in Elanco Animal Health by 19.2% in the 3rd 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 in the last quarter. Finally, Franklin Resources Inc. grew its stake in Elanco Animal Health by 14.0% in the 3rd quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock valued at $5,349,000 after acquiring an additional 45,795 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The stock has a market capitalization of $5.68 billion, a PE ratio of 28.73, a P/E/G ratio of 2.03 and a beta of 1.41. The company’s fifty day simple moving average is $12.73 and its two-hundred day simple moving average is $13.57.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company posted $0.18 EPS. The company’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.92 EPS 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.