Elanco Animal Health (NYSE:ELAN) Price Target Lowered to $13.00 at Morgan Stanley

Elanco Animal Health (NYSE:ELAN) had its target price lowered by Morgan Stanley from $14.00 to $13.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

ELAN has been the subject of a number of other research reports. Leerink Partners initiated coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price for the company. Barclays cut their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group began coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price target for the company. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus reduced their price objective on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.57.

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN opened at $11.15 on Wednesday. Elanco Animal Health has a 1 year low of $10.20 and a 1 year high of $18.80. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 2.50 and a beta of 1.42. 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 company’s 50 day simple moving average is $11.74 and its 200 day simple moving average is $13.06.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (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 the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business posted $0.08 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts predict that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ELAN. CoreCap Advisors LLC acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at about $29,000. AM Squared Ltd bought a new stake in Elanco Animal Health in the third quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new stake in Elanco Animal Health during the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC raised its holdings in Elanco Animal Health by 158.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock worth $49,000 after purchasing an additional 2,044 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Elanco Animal Health by 89.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock worth $50,000 after purchasing an additional 1,601 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

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.