Elanco Animal Health (NYSE:ELAN) Stock Rated Buy in New Coverage at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Elanco Animal Health (NYSE:ELAN) in a research report report published on Friday, MarketBeat reports. The firm issued a buy rating and a $32.00 target price on the stock.

Several other equities analysts also recently weighed in on ELAN. KeyCorp reaffirmed an “overweight” rating on shares of Elanco Animal Health in a research report on Wednesday, September 30th. TD Cowen raised their price objective on shares of Elanco Animal Health from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Morgan Stanley raised their price objective on shares of Elanco Animal Health from $23.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Piper Sandler restated an “overweight” rating on shares of Elanco Animal Health in a report on Monday, June 29th. Finally, UBS Group upped their target price on shares of Elanco Animal Health from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.91.

Elanco Animal Health Stock Up 0.0%

Shares of NYSE ELAN opened at $23.56 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.05 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $23.22 and its two-hundred day moving average is $23.58. Elanco Animal Health has a 52-week low of $19.40 and a 52-week high of $27.98. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of -57.46, a PEG ratio of 1.68 and a beta of 1.70.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.27 by $0.07. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.31 billion. Elanco Animal Health had a positive return on equity of 8.13% and a negative net margin of 3.96%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.26 earnings per share. Elanco Animal Health has set its Q3 2026 guidance at 0.190-0.220 EPS and its FY 2026 guidance at 1.100-1.160 EPS. Research analysts predict that Elanco Animal Health will post 1.13 EPS for the current year.

Insider Activity

In related news, Director Lawrence Kurzius bought 40,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $23.40 per share, with a total value of $936,000.00. Following the purchase, the director directly owned 188,647 shares of the company’s stock, valued at $4,414,339.80. This trade represents a 26.91% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shiv O’Neill purchased 3,998 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were bought at an average price of $23.58 per share, for a total transaction of $94,272.84. Following the acquisition, the insider owned 87,832 shares in the company, valued at $2,071,078.56. This trade represents a 4.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 63,198 shares of company stock worth $1,473,109 over the last three months. Company insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors and hedge funds have recently made changes to their positions in ELAN. BlackRock Inc. acquired a new stake in shares of Elanco Animal Health during the second quarter worth about $1,202,198,000. Primecap Management Co. CA purchased a new position in shares of Elanco Animal Health during the second quarter worth about $1,118,402,000. T. Rowe Price Investment Management Inc. increased its position in Elanco Animal Health by 11.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 35,227,418 shares of the company’s stock valued at $797,197,000 after acquiring an additional 3,717,404 shares during the period. State Street Corp increased its position in Elanco Animal Health by 4.7% in the 2nd quarter. State Street Corp now owns 16,063,046 shares of the company’s stock valued at $395,312,000 after acquiring an additional 726,567 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Elanco Animal Health in the 2nd quarter valued at about $205,636,000. 97.48% of the stock is owned by institutional investors and hedge funds.

About Elanco Animal Health

Elanco Animal Health Incorporated is a global animal health company that develops, manufactures and markets products for pets and food-producing animals. Its portfolio includes veterinary pharmaceuticals, vaccines, parasiticides, nutritional products and other solutions designed to prevent and treat disease, improve animal well-being and support livestock productivity.

For companion animals, Elanco offers products addressing pain, osteoarthritis, dermatological conditions, infectious diseases and flea, tick and intestinal parasite control.