Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) shares hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $16.70 and last traded at $16.31, with a volume of 1254090 shares changing hands. The stock had previously closed at $13.95.
The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Elanco Animal Health had a net margin of 9.68% and a return on equity of 7.04%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The business's revenue for the quarter was up 4.8% on a year-over-year basis.
Wall Street Analysts Forecast Growth
ELAN has been the subject of a number of recent analyst reports. Leerink Partners raised Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price target for the company in a research note on Thursday, July 17th. Piper Sandler raised their price target on Elanco Animal Health from $12.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday. Stifel Nicolaus lifted their target price on Elanco Animal Health from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. UBS Group lifted their price objective on Elanco Animal Health from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wall Street Zen upgraded Elanco Animal Health from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Elanco Animal Health currently has an average rating of "Moderate Buy" and a consensus price target of $17.33.
Get Our Latest Analysis on Elanco Animal Health
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. MTM Investment Management LLC boosted its holdings in Elanco Animal Health by 5.5% in the second quarter. MTM Investment Management LLC now owns 15,268 shares of the company's stock worth $218,000 after acquiring an additional 800 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Elanco Animal Health by 7.0% in the 1st quarter. HighTower Advisors LLC now owns 12,445 shares of the company's stock worth $131,000 after purchasing an additional 810 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Elanco Animal Health by 8.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,516 shares of the company's stock worth $169,000 after purchasing an additional 944 shares in the last quarter. ProShare Advisors LLC increased its stake in Elanco Animal Health by 8.7% in the 2nd quarter. ProShare Advisors LLC now owns 12,439 shares of the company's stock worth $178,000 after acquiring an additional 999 shares during the last quarter. Finally, Graypoint LLC increased its position in shares of Elanco Animal Health by 4.9% during the 1st quarter. Graypoint LLC now owns 26,845 shares of the company's stock valued at $282,000 after purchasing an additional 1,256 shares during the last quarter. Institutional investors own 97.48% of the company's stock.
Elanco Animal Health Trading Up 2.8%
The company has a 50-day moving average price of $14.32 and a two-hundred day moving average price of $12.08. The stock has a market cap of $8.51 billion, a P/E ratio of 19.90, a P/E/G ratio of 3.12 and a beta of 1.66. The company has a current ratio of 2.60, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61.
Elanco Animal Health Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Elanco Animal Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elanco Animal Health wasn't on the list.
While Elanco Animal Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
