Elanco Animal Health (NYSE:ELAN) – Stock analysts at William Blair reduced their FY2019 earnings estimates for Elanco Animal Health in a research note issued on Wednesday, November 6th. William Blair analyst J. Kreger now expects that the company will post earnings per share of $1.06 for the year, down from their previous estimate of $1.08. William Blair also issued estimates for Elanco Animal Health’s Q4 2019 earnings at $0.23 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.32 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.21 EPS, FY2021 earnings at $1.35 EPS and FY2022 earnings at $1.51 EPS.
Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Elanco Animal Health had a return on equity of 7.83% and a net margin of 4.69%. The company had revenue of $771.30 million for the quarter, compared to the consensus estimate of $765.85 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.
Several other equities research analysts also recently weighed in on ELAN. Cleveland Research restated a “hold” rating on shares of Elanco Animal Health in a report on Thursday, September 26th. UBS Group upgraded Elanco Animal Health from a “sell” rating to a “neutral” rating and lowered their target price for the company from $31.00 to $30.00 in a report on Thursday, August 15th. Morgan Stanley upgraded Elanco Animal Health from an “equal” rating to a “weight” rating and lowered their target price for the company from $34.00 to $32.00 in a report on Thursday. Zacks Investment Research cut Elanco Animal Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Finally, Bank of America cut Elanco Animal Health from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $33.41.
Shares of ELAN stock traded up $0.24 on Friday, hitting $27.16. The stock had a trading volume of 2,418,045 shares, compared to its average volume of 2,195,631. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.07 and a quick ratio of 1.71. The firm has a market capitalization of $10.03 billion, a P/E ratio of 23.02 and a beta of 0.69. Elanco Animal Health has a 1 year low of $25.51 and a 1 year high of $35.46. The company’s 50 day moving average price is $26.87 and its 200-day moving average price is $30.30.
In related news, major shareholder Dawei Li acquired 1,384,717 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $1.05 per share, with a total value of $1,453,952.85. Also, CEO Jeffrey N. Simmons acquired 75,750 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $26.55 per share, for a total transaction of $2,011,162.50. Following the completion of the transaction, the chief executive officer now directly owns 470,006 shares of the company’s stock, valued at $12,478,659.30. The disclosure for this purchase can be found here. Insiders acquired 1,497,497 shares of company stock worth $4,457,115 over the last three months. 0.04% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Elanco Animal Health by 9.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 42,332,541 shares of the company’s stock valued at $1,430,840,000 after acquiring an additional 3,653,638 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Elanco Animal Health by 10.2% in the second quarter. Vanguard Group Inc. now owns 31,942,263 shares of the company’s stock worth $1,079,649,000 after purchasing an additional 2,955,748 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Elanco Animal Health by 0.3% during the second quarter. Primecap Management Co. CA now owns 30,708,116 shares of the company’s stock valued at $1,037,934,000 after acquiring an additional 100,210 shares during the period. BlackRock Inc. boosted its holdings in Elanco Animal Health by 4.7% during the second quarter. BlackRock Inc. now owns 20,483,172 shares of the company’s stock valued at $692,331,000 after acquiring an additional 924,059 shares during the period. Finally, Morgan Stanley boosted its holdings in Elanco Animal Health by 18.5% during the second quarter. Morgan Stanley now owns 13,019,824 shares of the company’s stock valued at $440,071,000 after acquiring an additional 2,034,373 shares during the period.
About Elanco Animal Health
Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.
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