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

Elanco Animal Health (NYSE:ELAN) had its target price decreased by Morgan Stanley from $15.00 to $14.00 in a research note issued on Wednesday,Benzinga reports. The firm currently 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 current price.

ELAN has been the subject of several other reports. Leerink Partners began coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. Barclays increased their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. UBS Group assumed coverage on Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target for the company. Stifel Nicolaus decreased their target price 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 research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Stock Down 0.9 %

Shares of NYSE ELAN traded down $0.12 during midday trading on Wednesday, hitting $12.06. The company’s stock had a trading volume of 1,055,847 shares, compared to its average volume of 4,258,138. Elanco Animal Health has a 1 year low of $11.11 and a 1 year high of $18.80. The business’s fifty day simple moving average is $12.26 and its two-hundred day simple moving average is $13.26. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Elanco Animal Health will post 0.92 EPS for the current year.

Institutional Trading of Elanco Animal Health

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 4,361,799 shares during the period. State Street Corp grew its position in shares of Elanco Animal Health by 2.6% during the 3rd quarter. State Street Corp now owns 9,912,693 shares of the company’s stock worth $145,617,000 after buying an additional 255,084 shares during the period. Geode Capital Management LLC raised its position in shares of Elanco Animal Health by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after acquiring an additional 65,303 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock worth $93,803,000 after acquiring an additional 394,921 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Elanco Animal Health by 19.2% during the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after purchasing an additional 646,522 shares during the period. 97.48% of the stock is 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.