Elanco Animal Health (NYSE:ELAN) Stock Rating Upgraded by Leerink Partnrs

Elanco Animal Health (NYSE:ELAN) was upgraded by stock analysts at Leerink Partnrs to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on ELAN. Leerink Partners began coverage on Elanco Animal Health in a report on Monday. They issued a “market perform” rating and a $14.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Barclays raised their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.75.

Elanco Animal Health Stock Up 2.0 %

Shares of ELAN opened at $13.48 on Monday. The business’s 50 day simple moving average is $13.57 and its 200-day simple moving average is $14.61. Elanco Animal Health has a 1 year low of $11.40 and a 1 year high of $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 1.38 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in shares of Elanco Animal Health during the second quarter worth $55,599,000. Magnetar Financial LLC boosted its position in Elanco Animal Health by 61.2% in the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after buying an additional 3,164,350 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Elanco Animal Health during the 3rd quarter worth approximately $19,708,000. Assenagon Asset Management S.A. boosted its holdings in shares of Elanco Animal Health by 363.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after acquiring an additional 1,214,123 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Elanco Animal Health in the second quarter worth $16,043,000. 97.48% of the stock is currently owned by hedge funds and other 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.