Barclays Cuts Elanco Animal Health (NYSE:ELAN) Price Target to $19.00

Elanco Animal Health (NYSE:ELAN) had its price target lowered by Barclays from $22.00 to $19.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently commented on ELAN. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Stifel Nicolaus reissued a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Piper Sandler dropped their price objective on shares of Elanco Animal Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Elanco Animal Health Trading Up 0.8 %

NYSE:ELAN opened at $12.51 on Monday. Elanco Animal Health has a 12 month low of $8.59 and a 12 month high of $18.80. The firm has a fifty day simple moving average of $14.27 and a 200-day simple moving average of $14.77. The company has a current ratio of 2.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $6.18 billion, a P/E ratio of -4.91, a PEG ratio of 1.32 and a beta of 1.40.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Elanco Animal Health had a negative net margin of 27.94% and a positive return on equity of 7.29%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, equities research analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael J. Harrington acquired 3,500 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $14.85 per share, with a total value of $51,975.00. Following the transaction, the director now owns 81,094 shares in the company, valued at approximately $1,204,245.90. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michael J. Harrington bought 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $14.85 per share, with a total value of $51,975.00. Following the transaction, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey N. Simmons purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $13.01 per share, with a total value of $1,301,000.00. Following the purchase, the chief executive officer now owns 145,000 shares in the company, valued at $1,886,450. This trade represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.57% of the stock is owned by company insiders.

Institutional Trading of Elanco Animal Health

Hedge funds have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after acquiring an additional 1,361 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Elanco Animal Health in the third quarter valued at about $29,000. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health in the second quarter valued at about $31,000. nVerses Capital LLC acquired a new stake in shares of Elanco Animal Health in the second quarter valued at about $32,000. Finally, Quarry LP acquired a new stake in shares of Elanco Animal Health in the second quarter valued at about $40,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.