Elanco Animal Health (NYSE:ELAN) Hits New 1-Year Low – Should You Sell?

Shares of Elanco Animal Health Incorporated (NYSE:ELAN) hit a new 52-week low on Wednesday . The stock traded as low as $8.10 and last traded at $8.22, with a volume of 35183 shares traded. The stock had previously closed at $8.33.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of research reports. Barclays dropped their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. UBS Group decreased their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley reduced their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus cut their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Four investment 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 company presently has an average rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Stock Down 9.6 %

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’s 50-day simple moving average is $10.64 and its 200 day simple moving average is $12.07. The firm has a market cap of $4.21 billion, a P/E ratio of 21.54, a PEG ratio of 2.50 and a beta of 1.44.

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

Insider Buying and Selling

In other Elanco Animal Health news, Director Lawrence Erik Kurzius acquired 10,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the completion of the acquisition, the director now owns 111,459 shares in the company, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently made changes to their positions in ELAN. HighTower Advisors LLC increased its holdings in Elanco Animal Health by 34.0% during the 3rd quarter. HighTower Advisors LLC now owns 16,119 shares of the company’s stock worth $237,000 after purchasing an additional 4,093 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Elanco Animal Health by 82.4% during the third quarter. Stifel Financial Corp now owns 112,102 shares of the company’s stock valued at $1,647,000 after buying an additional 50,637 shares during the last quarter. State Street Corp boosted its position in shares of Elanco Animal Health by 2.6% during the third quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after buying an additional 255,084 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Elanco Animal Health by 8.1% during the third quarter. Orion Portfolio Solutions LLC now owns 29,227 shares of the company’s stock worth $429,000 after buying an additional 2,195 shares in the last quarter. Finally, MML Investors Services LLC raised its position in Elanco Animal Health by 31.4% in the 3rd quarter. MML Investors Services LLC now owns 15,454 shares of the company’s stock valued at $227,000 after buying an additional 3,692 shares during the last quarter. Institutional investors and hedge funds 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.