Stifel Nicolaus Has Lowered Expectations for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN) had its price objective reduced by investment analysts at Stifel Nicolaus from $18.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 41.28% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley lowered their price target on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Leerink Partners initiated coverage on shares of 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. Barclays upped their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, UBS Group assumed coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $11.33 on Friday. The firm’s 50 day moving average price is $11.83 and its 200-day moving average price is $13.10. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.60 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. Elanco Animal Health has a twelve month low of $10.77 and a twelve month high of $18.80.

Institutional Investors Weigh In On Elanco Animal Health

Several hedge funds have recently bought and sold shares of ELAN. DDD Partners LLC purchased a new position in shares of Elanco Animal Health in the fourth quarter worth about $5,974,000. Geode Capital Management LLC raised its stake in shares of Elanco Animal Health by 0.8% in the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after acquiring an additional 65,303 shares in the last quarter. Atom Investors LP boosted its holdings in Elanco Animal Health by 310.3% in the third quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after purchasing an additional 261,559 shares during the period. Harbor Capital Advisors Inc. grew its stake in Elanco Animal Health by 24.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock worth $13,135,000 after purchasing an additional 209,734 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Elanco Animal Health by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after purchasing an additional 646,522 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Elanco Animal Health

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.