Elanco Animal Health (NYSE:ELAN) Shares Down 6.4% – Here’s What Happened

Elanco Animal Health Incorporated (NYSE:ELAN)’s share price fell 6.4% on Friday . The company traded as low as $11.35 and last traded at $10.92. 291,906 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 4,436,308 shares. The stock had previously closed at $11.66.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Leerink Partners assumed coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target on the stock. UBS Group assumed coverage on Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus lowered their price target on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley cut their price objective on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.29.

Elanco Animal Health Price Performance

The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.57 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.69 and a beta of 1.42. The company has a 50 day moving average price of $11.94 and a 200 day moving average price of $13.15.

Hedge Funds Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Elanco Animal Health by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after buying an additional 65,303 shares during the last quarter. Atom Investors LP raised its holdings in Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after acquiring an additional 261,559 shares during the period. Harbor Capital Advisors Inc. lifted its position in Elanco Animal Health by 24.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock worth $13,135,000 after acquiring an additional 209,734 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Elanco Animal Health by 19.2% during the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after acquiring an additional 646,522 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Elanco Animal Health by 14.0% in the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock valued at $5,349,000 after purchasing an additional 45,795 shares during the last quarter. 97.48% of the stock is owned by 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.