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

Elanco Animal Health (NYSE:ELAN) had its price target dropped by investment analysts at Morgan Stanley from $14.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 18.99% from the stock’s current price.

ELAN has been the subject of a number of other research reports. Barclays lowered their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. UBS Group began coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Leerink Partners initiated coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price for the company. Finally, Stifel Nicolaus dropped their price target 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. Four 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 target price of $15.83.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $10.93 on Wednesday. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 27.31, a PEG 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 has a twelve month low of $10.20 and a twelve month high of $18.80. The stock has a fifty day simple moving average of $11.72 and a 200 day simple moving average of $13.05.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Tuesday, February 25th. The company reported $0.14 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $0.08 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts expect that Elanco Animal Health will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ELAN. Commerce Bank increased its holdings in shares of Elanco Animal Health by 2.2% during the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock valued at $516,000 after acquiring an additional 741 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in Elanco Animal Health by 2.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock valued at $524,000 after purchasing an additional 900 shares during the period. Arizona State Retirement System increased its stake in Elanco Animal Health by 0.8% during the 4th quarter. Arizona State Retirement System now owns 143,462 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,166 shares in the last quarter. MTM Investment Management LLC raised its holdings in Elanco Animal Health by 9.3% during the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock worth $172,000 after buying an additional 1,200 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Elanco Animal Health by 5.9% in the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after buying an additional 1,464 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

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.