Elanco Animal Health (NYSE:ELAN) Reaches New 1-Year Low – What’s Next?

Elanco Animal Health Incorporated (NYSE:ELAN)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $8.02 and last traded at $8.12, with a volume of 196559 shares changing hands. The stock had previously closed at $8.10.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ELAN. Morgan Stanley dropped their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. UBS Group cut their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus cut their target price on Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday. Barclays dropped their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler decreased their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.67.

Elanco Animal Health Stock Performance

The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average price is $10.38 and its 200 day moving average price is $11.93. The firm has a market capitalization of $4.09 billion, a PE ratio of 20.51, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last posted 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). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Activity

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of Elanco Animal Health stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $10.20 per share, with a total value of $102,000.00. Following the completion of the transaction, the director now directly owns 111,459 shares of the company’s stock, valued at approximately $1,136,881.80. This represents a 9.86 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ELAN. FMR LLC grew its holdings in Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock valued at $487,213,000 after purchasing an additional 37,022,891 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Elanco Animal Health by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company’s stock valued at $216,774,000 after purchasing an additional 1,074,274 shares during the last quarter. Shapiro Capital Management LLC increased its stake in shares of Elanco Animal Health by 7.5% in the fourth quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company’s stock worth $149,640,000 after purchasing an additional 862,900 shares during the period. Magnetar Financial LLC lifted its position in shares of Elanco Animal Health by 13.7% during the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after purchasing an additional 1,454,082 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after buying an additional 4,361,799 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

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.