Morgan Stanley Issues Pessimistic Forecast for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN) had its target price dropped by research analysts at Morgan Stanley from $15.00 to $14.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 16.13% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Leerink Partners began coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective on the stock. UBS Group started coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price target for the company. Barclays boosted their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Stifel Nicolaus lowered their price target on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Leerink Partnrs raised 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.29.

Elanco Animal Health Stock Down 0.9 %

NYSE ELAN traded down $0.12 during trading hours on Wednesday, hitting $12.06. 1,055,847 shares of the company traded hands, compared to its average volume of 4,258,138. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The business’s 50-day moving average is $12.26 and its 200-day moving average is $13.26. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 30.14, a P/E/G ratio of 2.57 and a beta of 1.41. Elanco Animal Health has a twelve month low of $11.11 and a twelve month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. Sell-side analysts anticipate that Elanco Animal Health will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Elanco Animal Health

A number of institutional investors have recently modified their holdings of ELAN. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 4,361,799 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Elanco Animal Health in the 3rd quarter valued at about $19,708,000. Assenagon Asset Management S.A. increased its position in Elanco Animal Health by 363.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after buying an additional 1,214,123 shares in the last quarter. Private Management Group Inc. raised its stake in Elanco Animal Health by 63.4% during the 4th quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock worth $28,545,000 after buying an additional 914,808 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Elanco Animal Health during the third quarter valued at approximately $9,969,000. 97.48% of the stock is owned by institutional investors.

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.