Barclays Issues Positive Forecast for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN) had its price target boosted by Barclays from $19.00 to $20.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus reissued a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.14.

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN traded down $0.43 during midday trading on Friday, hitting $14.07. 6,323,568 shares of the company’s stock traded hands, compared to its average volume of 4,403,132. Elanco Animal Health has a twelve month low of $10.19 and a twelve month high of $18.80. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.75 and a current ratio of 2.93. The firm’s fifty day moving average price is $13.93 and its two-hundred day moving average price is $14.72.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, sell-side analysts forecast that Elanco Animal Health will post 0.91 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jeffrey N. Simmons bought 100,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the purchase, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Michael J. Harrington acquired 3,500 shares of Elanco Animal Health stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the completion of the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at $1,204,245.90. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey N. Simmons bought 100,000 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the purchase, the chief executive officer now owns 145,000 shares of the company’s stock, valued at $1,886,450. The trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. boosted its position in Elanco Animal Health by 337.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after purchasing an additional 1,361 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Elanco Animal Health during the third quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health in the 2nd quarter worth about $31,000. nVerses Capital LLC bought a new stake in Elanco Animal Health in the 2nd quarter valued at about $32,000. Finally, AM Squared Ltd bought a new stake in Elanco Animal Health in the 3rd quarter valued at about $34,000. 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.