Elanco Animal Health (NASDAQ:ELAN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Elanco Animal Health (NASDAQ:ELAN) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Elanco Animal Health Incorporated operates as an animal health care company. It develops, manufactures and markets products for companion and food animals. Elanco Animal Health Incorporated is based in Greenfield, United States. “

Several other analysts have also issued reports on ELAN. Guggenheim started coverage on Elanco Animal Health in a research note on Wednesday, May 22nd. They issued a neutral rating on the stock. BMO Capital Markets upped their price objective on Sun Life Financial from C$58.00 to C$60.00 in a research note on Friday, May 10th. Morgan Stanley set a €52.00 ($60.47) price objective on Vonovia and gave the company a buy rating in a research note on Wednesday, March 13th. UBS Group increased their target price on Fortis from C$54.00 to C$55.00 in a research note on Wednesday, March 20th. Finally, Bank of America initiated coverage on DENTSPLY SIRONA in a research note on Monday, March 18th. They set a buy rating and a $57.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $33.56.



NASDAQ:ELAN opened at $33.31 on Wednesday. The company has a 50 day simple moving average of $33.00. Elanco Animal Health has a 12-month low of $28.00 and a 12-month high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. The business had revenue of $731.10 million during the quarter, compared to the consensus estimate of $743.40 million. Elanco Animal Health’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS.

In other Elanco Animal Health news, Director John P. Bilbrey bought 7,750 shares of Elanco Animal Health stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $32.39 per share, with a total value of $251,022.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Several institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC raised its stake in Elanco Animal Health by 28.7% in the 4th quarter. LPL Financial LLC now owns 11,538 shares of the company’s stock valued at $364,000 after purchasing an additional 2,571 shares during the last quarter. California Public Employees Retirement System acquired a new position in Elanco Animal Health in the 4th quarter valued at about $325,000. BlackRock Inc. raised its stake in Elanco Animal Health by 194.7% in the 4th quarter. BlackRock Inc. now owns 2,723,703 shares of the company’s stock valued at $85,879,000 after purchasing an additional 1,799,434 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Elanco Animal Health in the 4th quarter valued at about $2,213,000. Finally, Raymond James & Associates raised its stake in Elanco Animal Health by 12.3% in the 4th quarter. Raymond James & Associates now owns 67,796 shares of the company’s stock valued at $2,138,000 after purchasing an additional 7,407 shares during the last quarter.

About Elanco Animal Health

There is no company description available for Elanco Animal Health Inc

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