UBS Group Issues Positive Forecast for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN - Free Report) had its price objective upped by UBS Group from $17.00 to $18.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on ELAN. Leerink Partners upgraded shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Stifel Nicolaus increased their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. William Blair raised Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Finally, Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health has an average rating of "Moderate Buy" and an average target price of $16.17.

Elanco Animal Health Stock Up 1.6%

Shares of ELAN stock traded up $0.23 during trading hours on Wednesday, hitting $14.92. 4,613,396 shares of the company were exchanged, compared to its average volume of 4,072,886. The company has a market capitalization of $7.41 billion, a PE ratio of 20.16, a PEG ratio of 2.86 and a beta of 1.67. Elanco Animal Health has a 52 week low of $8.02 and a 52 week high of $15.78. The business has a 50 day moving average of $14.01 and a two-hundred day moving average of $11.89. The company has a current ratio of 2.71, a quick ratio of 1.46 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. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The company's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. Analysts anticipate that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elanco Animal Health

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its stake in Elanco Animal Health by 791.7% in the first quarter. Allworth Financial LP now owns 2,354 shares of the company's stock valued at $25,000 after buying an additional 2,090 shares during the period. CoreCap Advisors LLC acquired a new position in shares of Elanco Animal Health during the 4th quarter worth approximately $29,000. Parallel Advisors LLC raised its stake in Elanco Animal Health by 92.2% in the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock valued at $41,000 after acquiring an additional 1,852 shares during the period. NBC Securities Inc. acquired a new stake in Elanco Animal Health during the 1st quarter valued at $40,000. Finally, Versant Capital Management Inc boosted its position in Elanco Animal Health by 65.9% during the first quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock worth $46,000 after purchasing an additional 1,740 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.