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

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

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

Elanco Animal Health Trading Up 4.2 %

Shares of Elanco Animal Health stock opened at $11.15 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. Elanco Animal Health has a 52 week low of $10.20 and a 52 week high of $18.80. The stock has a 50 day moving average price of $11.74 and a two-hundred day moving average price of $13.06. The stock has a market capitalization of $5.51 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.50 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, equities analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DDD Partners LLC bought a new stake in Elanco Animal Health in the fourth quarter worth about $5,974,000. Geode Capital Management LLC increased its stake in shares of Elanco Animal Health by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after purchasing an additional 65,303 shares during the last quarter. Atom Investors LP raised its holdings in shares of Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after purchasing an additional 261,559 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Elanco Animal Health by 24.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock valued at $13,135,000 after purchasing an additional 209,734 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Elanco Animal Health by 19.2% during the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after purchasing an additional 646,522 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

About Elanco Animal Health

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.