Barclays Trims Elanco Animal Health (NYSE:ELAN) Target Price to $21.00

Elanco Animal Health (NYSE:ELAN) had its price target reduced by Barclays from $23.00 to $21.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Separately, Piper Sandler reaffirmed a neutral rating and set a $19.00 target price (up previously from $18.00) on shares of Elanco Animal Health in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Elanco Animal Health presently has an average rating of Moderate Buy and a consensus price target of $17.57.

Elanco Animal Health Trading Down 2.4 %

NYSE:ELAN opened at $14.09 on Friday. Elanco Animal Health has a 12-month low of $8.52 and a 12-month high of $18.80. The firm has a market capitalization of $6.96 billion, a P/E ratio of -5.32, a P/E/G ratio of 1.40 and a beta of 1.45. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 1.96. The business has a 50 day simple moving average of $16.45 and a 200 day simple moving average of $15.71.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that Elanco Animal Health will post 0.93 EPS for the current year.

Insider Transactions at Elanco Animal Health

In other news, Director William F. Doyle acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were bought at an average price of $16.98 per share, with a total value of $254,700.00. Following the purchase, the director now owns 76,330 shares of the company’s stock, valued at $1,296,083.40. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently modified their holdings of ELAN. Acadian Asset Management LLC purchased a new position in shares of Elanco Animal Health during the third quarter valued at $95,000. Dark Forest Capital Management LP grew its holdings in shares of Elanco Animal Health by 80.3% during the third quarter. Dark Forest Capital Management LP now owns 35,779 shares of the company’s stock valued at $402,000 after buying an additional 15,930 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Elanco Animal Health by 64.6% during the third quarter. Stifel Financial Corp now owns 185,453 shares of the company’s stock valued at $2,084,000 after buying an additional 72,814 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Elanco Animal Health by 78.6% during the third quarter. Trexquant Investment LP now owns 289,402 shares of the company’s stock valued at $3,253,000 after buying an additional 127,394 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Elanco Animal Health by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 221,460 shares of the company’s stock valued at $2,489,000 after buying an additional 1,107 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

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.