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 company traded as low as $8.02 and last traded at $8.12, with a volume of 196559 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley reduced their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus dropped their target price on Elanco Animal Health from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Piper Sandler dropped their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Barclays cut 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and a consensus price target of $14.67.

Elanco Animal Health Stock Up 4.2 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The business’s 50 day moving average is $10.26 and its 200-day moving average is $11.84. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last released 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). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of Elanco Animal Health stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $10.20 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently bought and sold shares of ELAN. FMR LLC lifted its stake in Elanco Animal Health by 1,153.6% in the 4th quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after purchasing an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 lifted its position in Elanco Animal Health by 7.5% during the fourth quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company’s stock worth $149,640,000 after buying an additional 862,900 shares in the last quarter. Magnetar Financial LLC lifted its position in Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock worth $145,711,000 after buying an additional 1,454,082 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Elanco Animal Health by 76.6% during the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after buying an additional 4,361,799 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.