Elanco Animal Health (NYSE:ELAN) Hits New 52-Week Low – Time to Sell?

Elanco Animal Health Incorporated (NYSE:ELAN) shares hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $10.77 and last traded at $11.26, with a volume of 7136767 shares. The stock had previously closed at $11.66.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ELAN shares. Leerink Partners began coverage on Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective on the stock. Morgan Stanley cut their target price on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Stifel Nicolaus cut their target price on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. UBS Group began coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Barclays boosted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.29.

Elanco Animal Health Stock Down 3.4 %

The company has a market cap of $5.57 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.69 and a beta of 1.42. The company has a 50-day simple moving average of $11.94 and a 200 day simple moving average of $13.14. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Institutional Investors Weigh In On Elanco Animal Health

Hedge funds have recently made changes to their positions in the company. AM Squared Ltd purchased a new stake in shares of Elanco Animal Health in the 3rd quarter worth $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Elanco Animal Health in the 3rd quarter worth $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Elanco Animal Health by 158.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock worth $49,000 after buying an additional 2,044 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Elanco Animal Health by 89.9% during 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 last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Elanco Animal Health by 95.6% during the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company’s stock worth $51,000 after purchasing an additional 2,059 shares during the last quarter. 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.