Elanco Animal Health (ELAN) Cut to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Elanco Animal Health (NASDAQ:ELAN) from a buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Elanco Animal Health Incorporated operates as an animal health care company. It develops, manufactures and markets products for companion and food animals. Elanco Animal Health Incorporated is based in Greenfield, United States. “

Several other research firms also recently weighed in on ELAN. BMO Capital Markets upped their price objective on shares of Elanco Animal Health from $32.00 to $35.00 and gave the stock a market perform rating in a report on Friday, May 10th. UBS Group assumed coverage on shares of Elanco Animal Health in a report on Wednesday, March 20th. They issued a sell rating and a $28.00 price objective for the company. Morgan Stanley assumed coverage on shares of Elanco Animal Health in a report on Wednesday, March 13th. They issued an equal weight rating and a $34.00 price objective for the company. Bank of America raised shares of Elanco Animal Health from a neutral rating to a buy rating and set a $30.95 price objective for the company in a report on Monday, March 18th. Finally, William Blair assumed coverage on shares of Elanco Animal Health in a report on Monday, February 11th. They issued a market perform rating and a $29.71 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Elanco Animal Health currently has a consensus rating of Hold and a consensus target price of $33.47.

Elanco Animal Health stock opened at $32.10 on Tuesday. Elanco Animal Health has a one year low of $28.00 and a one year high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $731.10 million during the quarter, compared to analyst estimates of $743.40 million. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS.

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $31.43 per share, with a total value of $628,600.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John P. Bilbrey purchased 7,750 shares of the business’s stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $32.39 per share, with a total value of $251,022.50. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of ELAN. JPMorgan Chase & Co. acquired a new stake in Elanco Animal Health in the 3rd quarter valued at about $38,358,000. Legal & General Group Plc acquired a new stake in Elanco Animal Health in the 3rd quarter valued at about $839,000. Vanguard Group Inc. acquired a new stake in Elanco Animal Health in the 3rd quarter valued at about $176,182,000. State of Alaska Department of Revenue acquired a new stake in Elanco Animal Health in the 4th quarter valued at about $261,000. Finally, First Hawaiian Bank acquired a new stake in Elanco Animal Health in the 4th quarter valued at about $35,000.

Elanco Animal Health Company Profile

There is no company description available for Elanco Animal Health Inc

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