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

Elanco Animal Health (NYSE:ELAN) had its target price dropped by research analysts at Barclays from $20.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 73.91% from the stock’s previous close.

A number of other research firms have also issued reports on ELAN. Morgan Stanley lowered their target price on 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. Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. UBS Group started coverage on shares of Elanco Animal Health in a research report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Leerink Partners began coverage on Elanco Animal Health in a research note on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.83.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $10.93 on Wednesday. The firm’s 50-day simple moving average is $11.72 and its 200 day simple moving average is $13.05. The stock has a market cap of $5.40 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.50 and a beta of 1.42. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health has a fifty-two week low of $10.20 and a fifty-two week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DDD Partners LLC purchased a new stake in shares of Elanco Animal Health in the fourth quarter valued at $5,974,000. Geode Capital Management LLC raised its position in Elanco Animal Health by 0.8% during the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after buying an additional 65,303 shares during the period. Atom Investors LP lifted its stake in Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after acquiring an additional 261,559 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position 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 acquiring an additional 209,734 shares during the period. Finally, Wellington Management Group LLP grew its stake in Elanco Animal Health by 19.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after acquiring an additional 646,522 shares in 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.