Barclays Trims Elanco Animal Health (NYSE:ELAN) Target Price to $21.00

Elanco Animal Health (NYSE:ELAN) had its target price decreased by Barclays from $23.00 to $21.00 in a research note published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Separately, Piper Sandler restated a neutral rating and set a $19.00 price objective (up from $18.00) on shares of Elanco Animal Health in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $17.57.

Elanco Animal Health Stock Down 2.4 %

NYSE ELAN opened at $14.09 on Friday. The company has a current ratio of 3.29, a quick ratio of 1.96 and a debt-to-equity ratio of 0.95. Elanco Animal Health has a 1-year low of $8.52 and a 1-year high of $18.80. The company has a 50 day moving average of $16.45 and a 200-day moving average of $15.71. The company has a market cap of $6.96 billion, a price-to-earnings ratio of -5.32, a PEG ratio of 1.40 and a beta of 1.45.

Elanco Animal Health (NYSE:ELAN) last released its quarterly 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 negative net margin of 29.83% and a positive return on equity of 5.98%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Elanco Animal Health will post 0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director William F. Doyle acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average price of $16.98 per share, for a total transaction of $254,700.00. Following the acquisition, the director now directly owns 76,330 shares in the company, valued at $1,296,083.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Elanco Animal Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA lifted its holdings in shares of Elanco Animal Health by 2.9% during the fourth quarter. Primecap Management Co. CA now owns 50,600,324 shares of the company’s stock worth $753,945,000 after purchasing an additional 1,431,665 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Elanco Animal Health by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 49,468,637 shares of the company’s stock worth $737,083,000 after purchasing an additional 467,196 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock worth $360,425,000 after purchasing an additional 852,281 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Elanco Animal Health by 33.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,095,179 shares of the company’s stock valued at $224,920,000 after buying an additional 3,816,514 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Elanco Animal Health by 1.4% in the first quarter. Ancora Advisors LLC now owns 10,641,194 shares of the company’s stock valued at $173,239,000 after buying an additional 143,326 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.