Elanco Animal Health (NYSE:ELAN) Price Target Raised to $18.00 at Piper Sandler

Key Points

• Piper Sandler has increased Elanco Animal Health's price target from $12.00 to $18.00, suggesting an 8.37% upside from current levels and maintaining a "neutral" rating on the stock.
• Elanco's earnings report for the last quarter showed earnings per share of $0.26, exceeding analyst estimates, with revenue up 4.8% year-over-year at $1.24 billion.
• Analyst sentiment is generally positive, with a consensus rating of "Moderate Buy" and an average target price of $17.33, as several firms have recently upgraded their ratings on the stock.

Elanco Animal Health (NYSE:ELAN - Get Free Report) had its target price lifted by stock analysts at Piper Sandler from $12.00 to $18.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price objective indicates a potential upside of 8.37% from the company's current price.

A number of other equities research analysts have also commented on the company. Leerink Partners upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective for the company in a research report on Thursday, July 17th. William Blair raised Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. Wall Street Zen raised Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, UBS Group raised their price objective on Elanco Animal Health from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of "Moderate Buy" and an average target price of $17.33.

Elanco Animal Health Stock Performance

Shares of ELAN opened at $16.61 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.60 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.12 and a beta of 1.66. Elanco Animal Health has a 52-week low of $8.02 and a 52-week high of $16.70. The business's 50 day moving average is $14.32 and its two-hundred day moving average is $12.08.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Elanco Animal Health had a return on equity of 7.04% and a net margin of 9.68%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.30 earnings per share. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. Analysts forecast that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Institutional Trading of Elanco Animal Health

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its stake in Elanco Animal Health by 791.7% in the 1st 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 in the last quarter. CoreCap Advisors LLC acquired a new stake in Elanco Animal Health in the 4th quarter valued at $29,000. NBC Securities Inc. acquired a new stake in Elanco Animal Health in the 1st quarter valued at $40,000. Parallel Advisors LLC boosted 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 buying an additional 1,852 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock valued at $46,000 after purchasing an additional 1,740 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

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.

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