Elanco Animal Health (NASDAQ:ELAN) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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Elanco Animal Health (NASDAQ:ELAN) posted its quarterly earnings data on Tuesday. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02, Briefing.com reports. The company had revenue of $781.60 million during the quarter, compared to the consensus estimate of $781.49 million. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Elanco Animal Health updated its FY19 guidance to $1.04-1.10 EPS.

NASDAQ ELAN traded up $0.01 on Thursday, reaching $28.52. 8,431 shares of the company’s stock traded hands, compared to its average volume of 5,806,281. Elanco Animal Health has a 12 month low of $28.00 and a 12 month high of $37.61. The stock has a 50-day moving average price of $32.97.

ELAN has been the topic of several research analyst reports. Zacks Investment Research cut shares of Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BMO Capital Markets upped their price objective on shares of Elanco Animal Health from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Guggenheim initiated coverage on shares of Elanco Animal Health in a research report on Wednesday, May 22nd. They set a “neutral” rating on the stock. Finally, UBS Group upgraded shares of Elanco Animal Health from a “sell” rating to a “neutral” rating and reduced their price target for the company from $31.00 to $30.00 in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.72.

A number of hedge funds and other institutional investors have recently modified their holdings of ELAN. Primecap Management Co. CA grew its position in Elanco Animal Health by 516.8% during the first quarter. Primecap Management Co. CA now owns 30,607,906 shares of the company’s stock valued at $981,596,000 after acquiring an additional 25,645,707 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Elanco Animal Health by 618.1% during the first quarter. BlackRock Inc. now owns 19,559,113 shares of the company’s stock valued at $627,262,000 after purchasing an additional 16,835,410 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $341,261,000. Invesco Ltd. boosted its stake in shares of Elanco Animal Health by 705.3% during the second quarter. Invesco Ltd. now owns 11,072,171 shares of the company’s stock valued at $374,240,000 after purchasing an additional 9,697,267 shares during the period. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $310,058,000.

About Elanco Animal Health

There is no company description available for Elanco Animal Health Inc

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