UBS Group Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $17.00

Elanco Animal Health (NYSE:ELAN) had its price objective reduced by stock analysts at UBS Group from $18.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 50.78% from the stock’s current price.

ELAN has been the subject of several other reports. Leerink Partners assumed coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 target price for the company. Morgan Stanley lowered their price objective on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Barclays cut their price target 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. Stifel Nicolaus decreased their price objective on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.57.

Elanco Animal Health Stock Up 5.4 %

Shares of ELAN stock traded up $0.58 during mid-day trading on Wednesday, reaching $11.28. 2,877,146 shares of the company’s stock traded hands, compared to its average volume of 4,853,261. The company has a market cap of $5.57 billion, a P/E ratio of 28.21, a P/E/G ratio of 2.50 and a beta of 1.42. 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 12 month low of $10.20 and a 12 month high of $18.80. The company’s 50-day moving average price is $11.75 and its 200-day moving average price is $13.07.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of Elanco Animal Health by 2,129.2% in the third quarter. Blue Trust Inc. now owns 3,968 shares of the company’s stock valued at $57,000 after buying an additional 3,790 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Elanco Animal Health by 70.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,515 shares of the company’s stock valued at $287,000 after purchasing an additional 8,077 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Elanco Animal Health by 158.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock worth $49,000 after purchasing an additional 2,044 shares during the last quarter. Private Management Group Inc. raised its holdings in shares of Elanco Animal Health by 62.6% in the 3rd quarter. Private Management Group Inc. now owns 1,442,334 shares of the company’s stock worth $21,188,000 after purchasing an additional 555,131 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Elanco Animal Health by 101.1% during the third quarter. Harbor Capital Advisors Inc. now owns 874,895 shares of the company’s stock valued at $12,852,000 after purchasing an additional 439,757 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.