Morgan Stanley Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $13.00

Elanco Animal Health (NYSE:ELAN) had its target price reduced by Morgan Stanley from $14.00 to $13.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

ELAN has been the subject of several other reports. Stifel Nicolaus lowered their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Leerink Partners started coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. Barclays lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, UBS Group started coverage on Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.83.

Elanco Animal Health Stock Up 2.4 %

Shares of NYSE ELAN opened at $11.19 on Wednesday. Elanco Animal Health has a 52-week low of $10.20 and a 52-week high of $18.80. The firm has a fifty day moving average of $11.71 and a 200-day moving average of $13.03. The stock has a market capitalization of $5.53 billion, a PE ratio of 27.96, a P/E/G ratio of 2.50 and a beta of 1.42. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELAN. CoreCap Advisors LLC purchased a new position in Elanco Animal Health in the 4th quarter valued at about $29,000. AM Squared Ltd purchased a new position in Elanco Animal Health in the 3rd quarter valued at about $34,000. Wilmington Savings Fund Society FSB purchased a new position in Elanco Animal Health in the 3rd quarter valued at about $35,000. Farther Finance Advisors LLC boosted its position in Elanco Animal Health by 158.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock valued at $49,000 after buying an additional 2,044 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Elanco Animal Health by 89.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock valued at $50,000 after buying an additional 1,601 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.