Barclays Boosts Elanco Animal Health (NYSE:ELAN) Price Target to $22.00

Elanco Animal Health (NYSE:ELAN) had its target price lifted by Barclays from $21.00 to $22.00 in a report published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts also recently commented on ELAN. Morgan Stanley downgraded shares of Elanco Animal Health from an overweight rating to an equal weight rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Piper Sandler decreased their price objective on Elanco Animal Health from $19.00 to $16.00 and set a neutral rating on the stock in a report on Monday, July 1st. Finally, Stifel Nicolaus restated a buy rating and set a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $17.43.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $13.72 on Monday. The company’s fifty day moving average price is $14.02 and its 200-day moving average price is $15.09. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.93 and a quick ratio of 1.75. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of -5.18, a PEG ratio of 1.33 and a beta of 1.40. Elanco Animal Health has a one year low of $8.52 and a one year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. On average, equities research analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elanco Animal Health news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction on Thursday, August 22nd. The stock was acquired at an average price of $14.85 per share, with a total value of $51,975.00. Following the transaction, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Michael J. Harrington acquired 3,500 shares of Elanco Animal Health stock in a transaction on Thursday, August 22nd. The shares were acquired at an average cost of $14.85 per share, with a total value of $51,975.00. Following the transaction, the director now owns 81,094 shares in the company, valued at $1,204,245.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey N. Simmons acquired 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 145,000 shares in the company, valued at approximately $1,886,450. The disclosure for this purchase can be found here. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ELAN. Norges Bank purchased a new position in shares of Elanco Animal Health in the 4th quarter valued at approximately $62,510,000. Canada Pension Plan Investment Board bought a new stake in shares of Elanco Animal Health during the 2nd quarter valued at $55,599,000. Magnetar Financial LLC grew its position in shares of Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after buying an additional 3,164,350 shares during the period. Wolf Hill Capital Management LP bought a new position in shares of Elanco Animal Health in the 4th quarter worth about $20,683,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Elanco Animal Health in the 2nd quarter worth about $16,043,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

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.