Morgan Stanley Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $13.00

Elanco Animal Health (NYSE:ELAN) had its price objective lowered by Morgan Stanley from $14.00 to $13.00 in a report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also weighed in on ELAN. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Barclays dropped their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective on the stock. Finally, UBS Group initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health has an average rating of “Hold” and a consensus target price of $15.83.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $11.19 on Wednesday. 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 one year low of $10.20 and a one year high of $18.80. The company’s 50-day simple moving average is $11.71 and its 200-day simple moving average is $13.03. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 2.50 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business posted $0.08 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elanco Animal Health

Several large investors have recently made changes to their positions in the company. Commerce Bank increased its stake in shares of Elanco Animal Health by 2.2% in the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock valued at $516,000 after purchasing an additional 741 shares during the period. Hillsdale Investment Management Inc. increased its stake in shares of Elanco Animal Health by 2.1% during the fourth 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 during the period. Arizona State Retirement System increased its stake in shares of Elanco Animal Health by 0.8% during the fourth 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 during the period. MTM Investment Management LLC increased its stake in shares of Elanco Animal Health by 9.3% during the fourth quarter. MTM Investment Management LLC now owns 14,168 shares of the company’s stock valued at $172,000 after acquiring an additional 1,200 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Elanco Animal Health by 5.9% during the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after acquiring an additional 1,464 shares during the period. 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.