Elanco Animal Health (NYSE:ELAN) Price Target Cut to $16.00 by Analysts at Piper Sandler

Elanco Animal Health (NYSE:ELAN) had its price target cut by Piper Sandler from $19.00 to $16.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Barclays reduced their price target on Elanco Animal Health from $23.00 to $21.00 and set an overweight rating on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Elanco Animal Health presently has a consensus rating of Moderate Buy and a consensus target price of $17.57.

Elanco Animal Health Trading Up 0.9 %

NYSE ELAN opened at $14.13 on Monday. Elanco Animal Health has a 1-year low of $8.52 and a 1-year high of $18.80. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $16.50 and a 200-day moving average of $15.69. The firm has a market cap of $6.98 billion, a PE ratio of -5.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $0.45 EPS. Elanco Animal Health’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Elanco Animal Health will post 0.93 EPS for the current year.

Insiders Place Their Bets

In other news, Director William F. Doyle bought 15,000 shares of Elanco Animal Health stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Elanco Animal Health

Several hedge funds and other institutional investors have recently made changes to their positions in ELAN. Jones Financial Companies Lllp purchased a new stake in shares of Elanco Animal Health in the 4th quarter worth approximately $37,000. Global Financial Private Client LLC purchased a new stake in shares of Elanco Animal Health in the 1st quarter worth approximately $72,000. Tower Research Capital LLC TRC lifted its position in Elanco Animal Health by 169.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock valued at $93,000 after acquiring an additional 3,906 shares in the last quarter. Acadian Asset Management LLC bought a new position in Elanco Animal Health in the 3rd quarter valued at approximately $95,000. Finally, Capstone Investment Advisors LLC bought a new position in Elanco Animal Health in the 1st quarter valued at approximately $167,000. Hedge funds and other institutional investors 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.