Elanco Animal Health (NYSE:ELAN) Rating Reiterated by Stifel Nicolaus

Elanco Animal Health (NYSE:ELAN)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a report issued on Thursday, Benzinga reports. They currently have a $20.00 price objective on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 42.15% from the company’s previous close.

ELAN has been the subject of a number of other research reports. Piper Sandler reduced their price objective on Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Barclays reduced their price objective on Elanco Animal Health from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $17.00 to $15.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Elanco Animal Health has an average rating of “Hold” and a consensus target price of $17.29.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $14.07 on Thursday. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of -5.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. 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 business has a fifty day moving average of $13.95 and a 200 day moving average of $15.17. Elanco Animal Health has a 1 year low of $8.52 and a 1 year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Elanco Animal Health had a positive return on equity of 7.29% and a negative net margin of 27.94%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. As a group, research analysts expect that Elanco Animal Health will post 0.91 earnings per share for the current year.

Insider Activity at Elanco Animal Health

In other news, CEO Jeffrey N. Simmons acquired 100,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $13.01 per share, for a total transaction of $1,301,000.00. Following the acquisition, the chief executive officer now owns 145,000 shares in the company, valued at approximately $1,886,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael J. Harrington acquired 3,500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average cost of $14.85 per share, for a total transaction of $51,975.00. Following the acquisition, the director now owns 81,094 shares in the company, valued at approximately $1,204,245.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey N. Simmons acquired 100,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $13.01 per share, for a total transaction of $1,301,000.00. Following the completion of the acquisition, the chief executive officer now 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 company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of Elanco Animal Health during the 2nd quarter worth approximately $781,000. Dana Investment Advisors Inc. boosted its holdings in shares of Elanco Animal Health by 6.2% during the 2nd quarter. Dana Investment Advisors Inc. now owns 252,019 shares of the company’s stock worth $3,637,000 after purchasing an additional 14,653 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Elanco Animal Health by 47.7% during the 2nd quarter. Truist Financial Corp now owns 62,964 shares of the company’s stock worth $909,000 after purchasing an additional 20,341 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Elanco Animal Health by 1.3% during the 2nd quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company’s stock worth $42,445,000 after purchasing an additional 36,944 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Elanco Animal Health during the 2nd quarter worth approximately $40,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.