Morgan Stanley upgraded shares of Elanco Animal Health (NYSE:ELAN) from an equal weight rating to an overweight rating in a research note published on Thursday, 24/7 WallStreet reports. Morgan Stanley currently has $31.00 price objective on the stock, up from their previous price objective of $24.00. The analysts noted that the move was a valuation call.
Other analysts also recently issued research reports about the stock. Bank of America lifted their price target on shares of Elanco Animal Health from $26.00 to $28.00 and gave the company a buy rating in a research note on Monday, July 20th. Credit Suisse Group assumed coverage on shares of Elanco Animal Health in a research note on Wednesday, August 12th. They set a neutral rating and a $27.00 price target for the company. Zacks Investment Research raised shares of Elanco Animal Health from a sell rating to a hold rating in a research note on Wednesday, July 8th. Goldman Sachs Group started coverage on shares of Elanco Animal Health in a research note on Tuesday, August 4th. They set a buy rating and a $26.50 price target for the company. Finally, Cleveland Research downgraded shares of Elanco Animal Health from a neutral rating to an underperform rating and set a $19.00 price objective for the company. in a research note on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $26.83.
NYSE ELAN traded down $0.80 during trading on Thursday, hitting $26.78. The stock had a trading volume of 52,952 shares, compared to its average volume of 5,781,703. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.54 and a current ratio of 3.82. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of -110.32, a P/E/G ratio of 4.92 and a beta of 0.91. Elanco Animal Health has a one year low of $15.17 and a one year high of $32.66. The stock has a 50 day simple moving average of $23.41 and a 200 day simple moving average of $23.73.
Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business had revenue of $586.30 million during the quarter, compared to the consensus estimate of $555.84 million. Elanco Animal Health had a negative net margin of 3.63% and a positive return on equity of 4.68%. On average, sell-side analysts predict that Elanco Animal Health will post 0.57 EPS for the current year.
In other news, insider Todd S. Young purchased 7,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were acquired at an average cost of $23.91 per share, with a total value of $167,370.00. Following the completion of the acquisition, the insider now owns 41,513 shares of the company’s stock, valued at $992,575.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John P. Bilbrey purchased 9,580 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $26.20 per share, for a total transaction of $250,996.00. Following the completion of the acquisition, the director now directly owns 8,016 shares of the company’s stock, valued at approximately $210,019.20. The disclosure for this purchase can be found here. Insiders acquired 18,580 shares of company stock worth $467,886 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ELAN. Janus Henderson Group PLC grew its holdings in shares of Elanco Animal Health by 209.7% during the first quarter. Janus Henderson Group PLC now owns 30,788,858 shares of the company’s stock valued at $689,364,000 after buying an additional 20,846,120 shares during the last quarter. Aristotle Capital Management LLC purchased a new stake in shares of Elanco Animal Health during the first quarter valued at $243,886,000. UBS Group AG grew its holdings in shares of Elanco Animal Health by 1,746.9% during the second quarter. UBS Group AG now owns 11,046,430 shares of the company’s stock valued at $236,946,000 after buying an additional 10,448,327 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Elanco Animal Health by 12.5% during the first quarter. Primecap Management Co. CA now owns 34,435,759 shares of the company’s stock valued at $771,017,000 after buying an additional 3,837,394 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Elanco Animal Health by 24.3% during the first quarter. State Street Corp now owns 12,639,827 shares of the company’s stock valued at $283,006,000 after buying an additional 2,472,266 shares during the last quarter. 99.77% of the stock is currently owned by hedge funds and other institutional investors.
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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