Elanco Animal Health (NYSE:ELAN) Hits New 52-Week Low – What’s Next?

Elanco Animal Health Incorporated (NYSE:ELAN)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $9.75 and last traded at $9.77, with a volume of 4155953 shares traded. The stock had previously closed at $10.77.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ELAN shares. UBS Group lowered their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley dropped their price target on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Barclays cut 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, February 26th. Piper Sandler lowered their price objective on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Nicolaus cut their target price on 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.17.

Elanco Animal Health Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.50 and a beta of 1.44. The firm has a 50 day simple moving average of $11.04 and a 200-day simple moving average of $12.30.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Elanco Animal Health

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $10.90 per share, with a total value of $109,000.00. Following the transaction, the director now directly owns 101,459 shares in the company, valued at $1,105,903.10. The trade was a 10.93 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company’s stock valued at $46,000 after buying an additional 1,740 shares during the period. Probity Advisors Inc. acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at $160,000. Jefferies Financial Group Inc. purchased a new position in Elanco Animal Health in the fourth quarter valued at $980,000. Forum Financial Management LP grew its stake in Elanco Animal Health by 22.7% during the 4th quarter. Forum Financial Management LP now owns 16,068 shares of the company’s stock worth $195,000 after purchasing an additional 2,977 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Elanco Animal Health during the 4th quarter worth about $2,122,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

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.