Elanco Animal Health’s (ELAN) “Buy” Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Elanco Animal Health (NYSE:ELAN) in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a $20.00 price objective on the stock.

Other analysts have also issued research reports about the company. Piper Sandler dropped their price objective on Elanco Animal Health from $19.00 to $16.00 and set a neutral rating on the stock in a research note on Monday, July 1st. Barclays dropped their price target on Elanco Animal Health from $23.00 to $21.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Finally, Morgan Stanley cut shares of Elanco Animal Health from an overweight rating to an equal weight rating and reduced their price objective for the stock from $17.00 to $15.00 in a research report on Thursday. One equities 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. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $17.29.

Elanco Animal Health Stock Down 6.6 %

NYSE:ELAN opened at $14.07 on Thursday. Elanco Animal Health has a twelve month low of $8.52 and a twelve month high of $18.80. 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 quick ratio of 1.75, a current ratio of 2.93 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $13.95 and its two-hundred day moving average price is $15.14.

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

Insider Buying and Selling

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

Institutional Trading of Elanco Animal Health

Several institutional investors and hedge funds have recently modified their holdings of ELAN. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Elanco Animal Health in the first quarter worth about $1,226,000. Vanguard Group Inc. lifted its stake in Elanco Animal Health by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock valued at $737,083,000 after purchasing an additional 467,196 shares during the last quarter. Bank of Nova Scotia acquired a new stake in Elanco Animal Health in the fourth quarter valued at approximately $4,004,000. Wolf Hill Capital Management LP bought a new stake in shares of Elanco Animal Health during the fourth quarter worth $20,683,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Elanco Animal Health during the first quarter worth $4,956,000. 97.48% of the stock is currently owned by institutional investors.

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.