Stifel Nicolaus Issues Positive Forecast for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN) had its price objective raised by research analysts at Stifel Nicolaus from $13.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 24.79% from the stock’s previous close.

Several other research firms also recently commented on ELAN. Barclays reduced their price objective on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group decreased their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Morgan Stanley lowered their target price on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $12.02 on Thursday. 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 $9.89 and its two-hundred day moving average is $11.43. Elanco Animal Health has a 52 week low of $8.02 and a 52 week high of $18.80. The company has a market capitalization of $5.97 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, analysts expect that Elanco Animal Health will post 0.91 earnings per share for the current year.

Insider Transactions at Elanco Animal Health

In related news, Director Lawrence Erik Kurzius acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the acquisition, the director now directly owns 101,459 shares in the company, valued at $1,105,903.10. The trade was a 10.93 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELAN. FMR LLC increased its stake in shares of Elanco Animal Health by 1,153.6% in the fourth quarter. FMR LLC now owns 40,232,327 shares of the company’s stock worth $487,213,000 after acquiring an additional 37,022,891 shares during the period. Norges Bank purchased a new position in Elanco Animal Health in the fourth quarter valued at $47,424,000. Brandes Investment Partners LP raised its position in shares of Elanco Animal Health by 66.9% in the fourth quarter. Brandes Investment Partners LP now owns 5,731,180 shares of the company’s stock worth $69,405,000 after acquiring an additional 2,296,691 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in shares of Elanco Animal Health during the 1st quarter worth about $23,744,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Elanco Animal Health in the fourth quarter valued at about $20,396,000. 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.