Elanco Animal Health (NYSE:ELAN) Price Target Raised to $17.00 at Stifel Nicolaus

Elanco Animal Health (NYSE:ELAN - Get Free Report) had its target price boosted by investment analysts at Stifel Nicolaus from $16.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 16.12% from the stock's previous close.

ELAN has been the topic of a number of other research reports. Piper Sandler dropped their price objective on 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. William Blair raised Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.33.

Elanco Animal Health Stock Down 0.5%

Shares of NYSE:ELAN traded down $0.08 during midday trading on Wednesday, reaching $14.64. 2,007,920 shares of the company were exchanged, compared to its average volume of 5,084,282. The firm has a market cap of $7.27 billion, a PE ratio of 19.78, a P/E/G ratio of 2.86 and a beta of 1.67. Elanco Animal Health has a fifty-two week low of $8.02 and a fifty-two week high of $15.78. The stock has a fifty day simple moving average of $12.93 and a two-hundred day simple moving average of $11.59. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The company's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Elanco Animal Health

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Elanco Animal Health by 1,153.6% during the fourth quarter. FMR LLC now owns 40,232,327 shares of the company's stock worth $487,213,000 after purchasing an additional 37,022,891 shares during the period. Nuveen LLC acquired a new position in shares of Elanco Animal Health in the 1st quarter valued at approximately $115,212,000. Norges Bank bought a new position in Elanco Animal Health in the fourth quarter valued at approximately $47,424,000. Dimensional Fund Advisors LP lifted its stake in Elanco Animal Health by 14.3% during the first quarter. Dimensional Fund Advisors LP now owns 20,464,727 shares of the company's stock worth $214,875,000 after purchasing an additional 2,563,740 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Elanco Animal Health by 104.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company's stock worth $50,268,000 after acquiring an additional 2,445,872 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.