Elanco Animal Health (NYSE:ELAN) Reaches New 12-Month Low Following Analyst Downgrade

Elanco Animal Health Incorporated (NYSE:ELAN) shares hit a new 52-week low on Wednesday after Stifel Nicolaus lowered their price target on the stock from $20.00 to $18.00. Stifel Nicolaus currently has a buy rating on the stock. Elanco Animal Health traded as low as $11.35 and last traded at $11.39, with a volume of 1146654 shares trading hands. The stock had previously closed at $11.80.

Several other analysts also recently issued reports on ELAN. Leerink Partners assumed coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. UBS Group initiated coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price target on the stock. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Barclays raised their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health has a consensus rating of “Hold” and an average price target of $16.43.

Institutional Trading of Elanco Animal Health

Hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in shares of Elanco Animal Health by 11.7% in the second quarter. Commonwealth Equity Services LLC now owns 34,942 shares of the company’s stock valued at $504,000 after buying an additional 3,647 shares during the period. TD Asset Management Inc grew its position in Elanco Animal Health by 13.5% during the second quarter. TD Asset Management Inc now owns 379,342 shares of the company’s stock worth $5,474,000 after buying an additional 45,203 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Elanco Animal Health by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 138,324 shares of the company’s stock worth $1,996,000 after purchasing an additional 2,892 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Elanco Animal Health in the second quarter worth $170,000. Finally, Choreo LLC acquired a new stake in Elanco Animal Health during the second quarter worth $620,000. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Price Performance

The stock has a market cap of $5.68 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. 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’s fifty day simple moving average is $12.73 and its 200-day simple moving average is $13.57.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.92 EPS for the current year.

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.