Leerink Partners Begins Coverage on Elanco Animal Health (NYSE:ELAN)

Stock analysts at Leerink Partners began coverage on shares of Elanco Animal Health (NYSE:ELAN) in a report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “market perform” rating and a $14.00 price target on the stock. Leerink Partners’ price target would indicate a potential upside of 5.98% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Barclays boosted their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health presently has a consensus rating of “Hold” and an average target price of $16.75.

Elanco Animal Health Price Performance

Shares of ELAN opened at $13.21 on Monday. Elanco Animal Health has a 52 week low of $11.40 and a 52 week high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 1.38 and a beta of 1.41. The stock has a 50 day moving average of $13.57 and a 200-day moving average of $14.63.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts forecast that Elanco Animal Health will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. boosted its position in Elanco Animal Health by 337.7% during 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 Elanco Animal Health in the third quarter worth about $29,000. ORG Partners LLC bought a new position in Elanco Animal Health in the 2nd quarter valued at about $31,000. nVerses Capital LLC acquired a new position in Elanco Animal Health during the 2nd quarter valued at about $32,000. Finally, AM Squared Ltd acquired a new position in Elanco Animal Health during the 3rd quarter valued at about $34,000. 97.48% of the stock is owned by institutional investors.

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.