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

Elanco Animal Health (NYSE:ELAN) had its price target lowered by Piper Sandler from $16.00 to $12.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 11.37% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Stifel Nicolaus cut their price target 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. Barclays cut their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley cut their price target 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. Finally, UBS Group cut their price target on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $10.78 on Thursday. The company has a fifty day simple moving average of $11.68 and a 200 day simple moving average of $12.97. Elanco Animal Health has a 12-month low of $10.20 and a 12-month high of $18.80. 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 company has a market cap of $5.33 billion, a P/E ratio of 26.91, 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 (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 EPS. Sell-side analysts predict that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elanco Animal Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELAN. CoreCap Advisors LLC bought a new stake in shares of Elanco Animal Health during the fourth quarter valued at about $29,000. AM Squared Ltd bought a new stake in shares of Elanco Animal Health during the third quarter valued at about $34,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Elanco Animal Health during the third quarter valued at about $35,000. Farther Finance Advisors LLC increased its position in shares of Elanco Animal Health by 158.7% during the third quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock valued at $49,000 after buying an additional 2,044 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of Elanco Animal Health by 89.9% during the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock valued at $50,000 after buying an additional 1,601 shares during the period. 97.48% of the stock is currently 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.