Elanco Animal Health (NYSE:ELAN) Reaches New 1-Year High on Strong Earnings

Elanco Animal Health Incorporated (NYSE:ELAN)’s share price hit a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $17.05 and last traded at $16.96, with a volume of 5386640 shares trading hands. The stock had previously closed at $13.52.

The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. Elanco Animal Health had a negative net margin of 27.87% and a positive return on equity of 6.44%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ELAN. Morgan Stanley upped their price target on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Barclays upped their price target on shares of Elanco Animal Health from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday. TheStreet raised shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a research report on Friday, February 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Elanco Animal Health from $12.50 to $14.00 and gave the company a “sell” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.29.

Insider Transactions at Elanco Animal Health

In other Elanco Animal Health news, Director R David Hoover bought 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the purchase, the director now directly owns 185,000 shares of the company’s stock, valued at $2,985,900. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Elanco Animal Health

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp purchased a new position in Elanco Animal Health in the fourth quarter valued at approximately $37,000. Tower Research Capital LLC TRC lifted its stake in Elanco Animal Health by 169.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company’s stock valued at $93,000 after purchasing an additional 3,906 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Elanco Animal Health in the third quarter valued at approximately $95,000. Capstone Investment Advisors LLC purchased a new position in Elanco Animal Health in the first quarter valued at approximately $167,000. Finally, Atomi Financial Group Inc. bought a new stake in Elanco Animal Health during the 1st quarter valued at $180,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

The business’s fifty day simple moving average is $15.00 and its 200-day simple moving average is $14.06. The company has a current ratio of 2.75, a quick ratio of 1.35 and a debt-to-equity ratio of 0.92. The firm has a market cap of $8.50 billion, a P/E ratio of -6.88, a PEG ratio of 1.42 and a beta of 1.34.

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.