Piper Sandler Has Lowered Expectations for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN) had its price target reduced by stock analysts at Piper Sandler from $16.00 to $12.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 11.37% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Leerink Partners initiated 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 on the stock. UBS Group reduced 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 note on Wednesday, February 26th. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley reduced their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Elanco Animal Health has an average rating of “Hold” and a consensus price target of $15.17.

Elanco Animal Health Price Performance

Shares of ELAN opened at $10.78 on Thursday. Elanco Animal Health has a fifty-two week low of $10.20 and a fifty-two week high of $18.80. The firm has a market capitalization of $5.33 billion, a PE ratio of 26.91, a PEG ratio of 2.50 and a beta of 1.44. The company’s 50-day moving average is $11.68 and its 200-day moving average is $12.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 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 the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $0.08 earnings per share. Elanco Animal Health’s revenue was down 1.4% compared to the same quarter last year. Equities analysts forecast that Elanco Animal Health will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Probity Advisors Inc. bought a new position in Elanco Animal Health in the 4th quarter valued at approximately $160,000. Jefferies Financial Group Inc. bought a new position in Elanco Animal Health in the 4th quarter valued at approximately $980,000. Forum Financial Management LP raised its holdings 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 during the last quarter. Public Employees Retirement System of Ohio bought a new position in Elanco Animal Health during the 4th quarter worth approximately $2,122,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Elanco Animal Health by 13.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,716,929 shares of the company’s stock valued at $20,792,000 after acquiring an additional 206,482 shares in the last quarter. 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.