Elanco Animal Health (NYSE:ELAN) Shares Down 6.4% – Should You Sell?

Elanco Animal Health Incorporated (NYSE:ELAN) shares fell 6.4% during trading on Friday . The company traded as low as $11.35 and last traded at $10.92. 291,906 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 4,436,308 shares. The stock had previously closed at $11.66.

Analysts Set New Price Targets

ELAN has been the subject of several research reports. Morgan Stanley lowered their target price on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. UBS Group started coverage on Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. Stifel Nicolaus lowered their price target on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Barclays lifted their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.29.

Elanco Animal Health Stock Performance

The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.69 and a beta of 1.42. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $11.94 and its 200-day moving average is $13.15.

Institutional Investors Weigh In On Elanco Animal Health

A number of hedge funds have recently modified their holdings of ELAN. Mercer Global Advisors Inc. ADV bought a new stake in Elanco Animal Health during the 4th quarter worth approximately $803,000. Freestone Grove Partners LP bought a new stake in shares of Elanco Animal Health during the fourth quarter worth $20,396,000. Comerica Bank raised its holdings in shares of Elanco Animal Health by 357.9% during the fourth quarter. Comerica Bank now owns 33,926 shares of the company’s stock worth $411,000 after acquiring an additional 26,517 shares during the period. Perbak Capital Partners LLP bought a new stake in Elanco Animal Health in the 4th quarter valued at $2,691,000. Finally, Northern Trust Corp boosted its stake in Elanco Animal Health by 22.5% in the 4th quarter. Northern Trust Corp now owns 2,943,686 shares of the company’s stock worth $35,648,000 after purchasing an additional 541,341 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.