Morgan Stanley Lowers Elanco Animal Health (NYSE:ELAN) Price Target to $13.00

Elanco Animal Health (NYSE:ELAN) had its price target cut by analysts at Morgan Stanley from $14.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 15.20% from the company’s current price.

Several other research analysts have also recently weighed in on ELAN. Barclays decreased their target price on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their price target on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. UBS Group initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Leerink Partners started coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price on the stock. Finally, Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Elanco Animal Health currently has an average rating of “Hold” and an average target price of $15.71.

Elanco Animal Health Stock Up 5.5 %

Shares of ELAN traded up $0.59 during midday trading on Wednesday, hitting $11.29. The company had a trading volume of 1,582,670 shares, compared to its average volume of 4,816,554. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.50 and a beta of 1.42. The company’s 50 day moving average price is $11.75 and its 200 day moving average price is $13.07. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health has a 52 week low of $10.20 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. On average, equities research analysts predict that Elanco Animal Health will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FMR LLC boosted its stake 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 worth $487,213,000 after buying an additional 37,022,891 shares in the last quarter. Dimensional Fund Advisors LP increased its stake 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 buying an additional 1,074,274 shares in the last quarter. Shapiro Capital Management LLC lifted its position in shares of 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 purchasing an additional 862,900 shares in the last quarter. Magnetar Financial LLC boosted its position in Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company’s stock valued at $145,711,000 after buying an additional 1,454,082 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position 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 worth $147,747,000 after purchasing an additional 4,361,799 shares during the period. 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.