Elanco Animal Health (NYSE:ELAN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Elanco Animal Health (NYSE:ELAN) from a hold rating to a buy rating in a research note released on Saturday.

ELAN has been the subject of several other reports. Stifel Nicolaus lifted their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday. William Blair raised Elanco Animal Health from a “market perform” rating to an “outperform” rating in a report on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.33.

Elanco Animal Health Trading Down 0.5%

NYSE:ELAN opened at $14.64 on Friday. The stock’s 50 day moving average price is $12.93 and its 200 day moving average price is $11.59. The company has a market capitalization of $7.27 billion, a PE ratio of 19.78, a P/E/G ratio of 2.86 and a beta of 1.67. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68. Elanco Animal Health has a 52-week low of $8.02 and a 52-week high of $15.78.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $0.34 EPS. The company’s revenue was down 1.0% on a year-over-year basis. On average, research analysts anticipate that Elanco Animal Health will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Elanco Animal Health

Several institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC raised its stake in Elanco Animal Health by 7.0% during the 1st quarter. HighTower Advisors LLC now owns 12,445 shares of the company’s stock valued at $131,000 after acquiring an additional 810 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in Elanco Animal Health by 2.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company’s stock valued at $524,000 after acquiring an additional 900 shares in the last quarter. Arizona State Retirement System raised 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 acquiring an additional 1,166 shares in the last quarter. Graypoint LLC boosted its stake in Elanco Animal Health by 4.9% during the 1st quarter. Graypoint LLC now owns 26,845 shares of the company’s stock valued at $282,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Commerce Bank boosted its stake in Elanco Animal Health by 3.7% during the 1st quarter. Commerce Bank now owns 35,321 shares of the company’s stock valued at $371,000 after purchasing an additional 1,256 shares in the last quarter. 97.48% of the stock is owned by institutional investors.

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.