Elanco Animal Health (NYSE:ELAN) Earns “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Elanco Animal Health (NYSE:ELAN) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $20.00 target price on the stock.

A number of other research analysts also recently issued reports on ELAN. Piper Sandler dropped their price target on shares of Elanco Animal Health from $19.00 to $16.00 and set a neutral rating on the stock in a research report on Monday, July 1st. Barclays dropped their target price on shares of Elanco Animal Health from $23.00 to $21.00 and set an overweight rating on the stock in a report on Friday, June 28th. Finally, Morgan Stanley downgraded Elanco Animal Health from an overweight rating to an equal weight rating and decreased their price target for the stock from $17.00 to $15.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $17.29.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $14.07 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. Elanco Animal Health has a 52 week low of $8.52 and a 52 week high of $18.80. The firm has a market cap of $6.95 billion, a PE ratio of -5.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The firm’s fifty day moving average is $13.95 and its 200-day moving average is $15.14.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Sell-side analysts predict that Elanco Animal Health will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA raised its position in Elanco Animal Health by 2.9% in the 4th quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock valued at $753,945,000 after buying an additional 1,431,665 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Elanco Animal Health by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after purchasing an additional 467,196 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after purchasing an additional 852,281 shares in the last quarter. Ancora Advisors LLC boosted its holdings in Elanco Animal Health by 1.4% during the first quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock worth $173,239,000 after purchasing an additional 143,326 shares during the last quarter. Finally, Magnetar Financial LLC grew its position in Elanco Animal Health by 61.2% in the 2nd 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. 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.