Stifel Nicolaus Increases Elanco Animal Health (NYSE:ELAN) Price Target to $16.00

Elanco Animal Health (NYSE:ELAN) had its price target upped by Stifel Nicolaus from $15.00 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 22.32% from the company’s current price.

Several other research firms have also recently commented on ELAN. Piper Sandler decreased their price target on shares of 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. UBS Group lowered their target price on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley cut their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays lowered their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Elanco Animal Health has a consensus rating of “Hold” and a consensus target price of $15.17.

Elanco Animal Health Stock Down 1.1%

Shares of ELAN opened at $13.08 on Monday. The company has a 50-day simple moving average of $10.22 and a 200-day simple moving average of $11.45. The firm has a market capitalization of $6.50 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.50 and a beta of 1.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. Elanco Animal Health has a 52 week low of $8.02 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, equities research analysts expect that Elanco Animal Health will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director now directly owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently bought and sold shares of ELAN. FMR LLC grew its position in Elanco Animal Health by 1,153.6% in the 4th quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after purchasing an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Elanco Animal Health by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,464,727 shares of the company’s stock worth $214,875,000 after buying an additional 2,563,740 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Elanco Animal Health by 1.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,983,391 shares of the company’s stock worth $167,826,000 after buying an additional 292,655 shares during the last quarter. Shapiro Capital Management LLC grew its holdings in shares of Elanco Animal Health by 7.5% during the 4th 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. Finally, Magnetar Financial LLC grew its holdings in shares of Elanco Animal Health by 13.7% during the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock valued at $145,711,000 after purchasing an additional 1,454,082 shares during the last quarter. Institutional investors and hedge funds 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.