Elanco Animal Health (NYSE:ELAN) Raised to “Outperform” at William Blair

Elanco Animal Health (NYSE:ELAN) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat reports.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus increased their target price on Elanco Animal Health from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Barclays lowered their price target on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group lowered their price target on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley lowered their price target on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler lowered their price target on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $14.32 on Thursday. Elanco Animal Health has a 1-year low of $8.02 and a 1-year high of $15.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.71 and a quick ratio of 1.46. The business’s fifty day moving average price is $12.39 and its two-hundred day moving average price is $11.51. The firm has a market capitalization of $7.11 billion, a PE ratio of 19.34, a P/E/G ratio of 2.80 and a beta of 1.67.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts expect that Elanco Animal Health will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELAN. Rhumbline Advisers grew its holdings in Elanco Animal Health by 0.5% during the fourth quarter. Rhumbline Advisers now owns 481,438 shares of the company’s stock worth $5,830,000 after acquiring an additional 2,209 shares during the period. Truist Financial Corp increased its stake in Elanco Animal Health by 173.1% in the 4th quarter. Truist Financial Corp now owns 190,284 shares of the company’s stock worth $2,304,000 after purchasing an additional 120,596 shares in the last quarter. Private Advisor Group LLC increased its stake in Elanco Animal Health by 6.3% in the 4th quarter. Private Advisor Group LLC now owns 148,763 shares of the company’s stock worth $1,802,000 after purchasing an additional 8,848 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Elanco Animal Health by 38.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 376,262 shares of the company’s stock worth $4,557,000 after purchasing an additional 103,692 shares in the last quarter. Finally, Kovack Advisors Inc. purchased a new position in Elanco Animal Health in the 4th quarter worth about $170,000. 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.