Barclays Lowers Elanco Animal Health (NYSE:ELAN) Price Target to $19.00

Elanco Animal Health (NYSE:ELAN) had its price objective cut by equities researchers at Barclays from $20.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 77.49% from the stock’s current price.

A number of other research firms have also issued reports on ELAN. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Morgan Stanley reduced their price objective on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. UBS Group began coverage on Elanco Animal Health in a research report on Monday, December 9th. They issued a “buy” rating and a $18.00 target price on the stock. Stifel Nicolaus cut their target price on 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. Finally, Leerink Partners initiated coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Elanco Animal Health has an average rating of “Hold” and an average target price of $15.86.

Elanco Animal Health Stock Down 3.6 %

Shares of Elanco Animal Health stock opened at $10.71 on Wednesday. Elanco Animal Health has a twelve month low of $10.20 and a twelve month high of $18.80. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.50 and a beta of 1.42. 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 business’s 50 day simple moving average is $11.75 and its 200-day simple moving average is $13.07.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $0.08 earnings per share. Elanco Animal Health’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current year.

Institutional Trading of Elanco Animal Health

A number of hedge funds and other institutional investors have recently modified their holdings of ELAN. FMR LLC grew its holdings in Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after acquiring an additional 37,022,891 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Elanco Animal Health by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,074,274 shares in the last quarter. Shapiro Capital Management LLC lifted its stake in Elanco Animal Health by 7.5% during the fourth quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company’s stock valued at $149,640,000 after purchasing an additional 862,900 shares during the last quarter. Magnetar Financial LLC boosted its holdings in Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after buying an additional 1,454,082 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Elanco Animal Health by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after buying an additional 4,361,799 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

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.