Elanco Animal Health (NYSE:ELAN) Sets New 52-Week Low After Earnings Miss

Elanco Animal Health Incorporated (NYSE:ELAN) hit a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $10.65 and last traded at $10.35, with a volume of 9619 shares changing hands. The stock had previously closed at $11.11.

The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company 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 quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Leerink Partners assumed coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target for the company. Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group assumed coverage on Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 price target for the company. Finally, Morgan Stanley lowered their target price on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position 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 during the period. JPMorgan Chase & Co. lifted its holdings in Elanco Animal Health by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after acquiring an additional 4,361,799 shares during the period. Norges Bank bought a new stake in shares of Elanco Animal Health during the 4th quarter valued at about $47,424,000. Brandes Investment Partners LP increased its position in shares of Elanco Animal Health by 66.9% during the 4th quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock valued at $69,405,000 after purchasing an additional 2,296,691 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Elanco Animal Health in the 4th quarter worth approximately $20,396,000. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Stock Performance

The business’s fifty day moving average is $11.78 and its 200-day moving average is $13.09. 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 company has a market cap of $5.20 billion, a PE ratio of 26.26, a P/E/G ratio of 2.50 and a beta of 1.42.

Elanco Animal Health Company Profile

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.