Elanco Animal Health (NYSE:ELAN) Hits New 1-Year Low Following Weak Earnings

Elanco Animal Health Incorporated (NYSE:ELAN) shares reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $10.65 and last traded at $10.35, with a volume of 9619 shares trading hands. The stock had previously closed at $11.11.

The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 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 $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $0.08 earnings per share. Elanco Animal Health’s revenue was down 1.4% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ELAN shares. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Barclays increased their price target on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Leerink Partners started coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Morgan Stanley dropped their price objective on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, UBS Group initiated coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Forum Financial Management LP increased its stake in Elanco Animal Health by 22.7% in the 4th quarter. Forum Financial Management LP now owns 16,068 shares of the company’s stock valued at $195,000 after purchasing an additional 2,977 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Elanco Animal Health in the fourth quarter worth about $2,122,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Elanco Animal Health by 13.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,716,929 shares of the company’s stock worth $20,792,000 after acquiring an additional 206,482 shares during the period. Vident Advisory LLC acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at $122,000. Finally, Twinbeech Capital LP boosted its position in shares of Elanco Animal Health by 878.5% in the fourth quarter. Twinbeech Capital LP now owns 914,775 shares of the company’s stock worth $11,078,000 after buying an additional 821,288 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average is $11.78 and its two-hundred day moving average is $13.09. The stock has a market cap of $5.20 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.50 and a beta of 1.42.

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.