Elanco Animal Health (NYSE:ELAN) Price Target Raised to $17.00

Elanco Animal Health (NYSE:ELAN) had its price objective increased by Stifel Nicolaus from $16.00 to $17.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

ELAN has been the topic of a number of other reports. William Blair raised Elanco Animal Health from a “market perform” rating to an “outperform” rating in a report on Thursday, June 26th. Piper Sandler lowered their target price on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.33.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $14.64 on Wednesday. Elanco Animal Health has a fifty-two week low of $8.02 and a fifty-two week high of $15.78. The firm’s 50-day simple moving average is $12.93 and its 200 day simple moving average is $11.59. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68. The stock has a market cap of $7.27 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.86 and a beta of 1.67.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data 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 8.43% and a return on equity of 7.54%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. Equities analysts expect that Elanco Animal Health will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake in Elanco Animal Health by 1,153.6% during the 4th quarter. FMR LLC now owns 40,232,327 shares of the company’s stock valued at $487,213,000 after acquiring an additional 37,022,891 shares in the last quarter. Nuveen LLC purchased a new position in Elanco Animal Health during the 1st quarter valued at about $115,212,000. Norges Bank purchased a new position in Elanco Animal Health during the 4th quarter valued at about $47,424,000. Dimensional Fund Advisors LP grew its stake in Elanco Animal Health by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,464,727 shares of the company’s stock valued at $214,875,000 after acquiring an additional 2,563,740 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Elanco Animal Health by 104.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company’s stock valued at $50,268,000 after acquiring an additional 2,445,872 shares in the last quarter. Hedge funds and other 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.