Elanco Animal Health (NYSE:ELAN) Hits New 1-Year Low – What’s Next?

Elanco Animal Health Incorporated (NYSE:ELAN)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $9.75 and last traded at $9.77, with a volume of 4155953 shares changing hands. The stock had previously closed at $10.77.

Analyst Ratings Changes

Several equities research analysts have weighed in on ELAN shares. Stifel Nicolaus reduced their price objective on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Morgan Stanley cut their target price on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. UBS Group lowered their price target on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Barclays cut their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.17.

Elanco Animal Health Stock Performance

The firm has a market capitalization of $4.79 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The firm has a 50-day moving average price of $11.14 and a two-hundred day moving average price of $12.35.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 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 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. On average, analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $10.20 per share, for a total transaction of $102,000.00. Following the acquisition, the director now directly owns 111,459 shares in the company, valued at approximately $1,136,881.80. The trade was a 9.86 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Elanco Animal Health

Several hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in Elanco Animal Health by 1,153.6% in the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after buying an additional 37,022,891 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after acquiring an additional 4,361,799 shares during the period. Norges Bank bought a new position in shares of Elanco Animal Health in the 4th quarter worth $47,424,000. Brandes Investment Partners LP lifted its stake in shares of Elanco Animal Health by 66.9% during the 4th quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock worth $69,405,000 after purchasing an additional 2,296,691 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Elanco Animal Health during the 4th quarter worth $20,396,000. 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.