Elanco Animal Health (NYSE:ELAN) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group raised its price target for Elanco Animal Health from $18.00 to $19.00, indicating a potential upside of 15.47% from the previous close, while maintaining a "buy" rating on the stock.
• Other analysts have also upgraded Elanco, with a majority rating the stock as buy or outperform, resulting in an average rating of "Moderate Buy" and an average price target of $16.33.
• Elanco reported a quarterly earnings per share (EPS) of $0.26, exceeding estimates by 6 cents, and showed a year-over-year revenue increase of 4.8%, amounting to $1.24 billion.

Elanco Animal Health (NYSE:ELAN - Free Report) had its target price hoisted by UBS Group from $18.00 to $19.00 in a report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on the company. Stifel Nicolaus upped their price objective on Elanco Animal Health from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. William Blair upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Elanco Animal Health from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Leerink Partners upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research report on Thursday, July 17th. Finally, Leerink Partnrs upgraded Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.33.

Elanco Animal Health Stock Performance

ELAN traded up $0.14 on Friday, reaching $17.24. 358,631 shares of the stock were exchanged, compared to its average volume of 5,413,007. The company's 50-day moving average price is $14.39 and its 200 day moving average price is $12.12. Elanco Animal Health has a fifty-two week low of $8.02 and a fifty-two week high of $17.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.60 and a quick ratio of 1.40. The firm has a market capitalization of $8.56 billion, a PE ratio of 20.06, a PEG ratio of 3.12 and a beta of 1.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. Elanco Animal Health had a return on equity of 7.04% and a net margin of 9.68%. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts forecast that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

A number of large investors have recently bought and sold shares of the business. MTM Investment Management LLC raised its holdings in Elanco Animal Health by 5.5% in the 2nd quarter. MTM Investment Management LLC now owns 15,268 shares of the company's stock worth $218,000 after purchasing an additional 800 shares during the period. HighTower Advisors LLC raised 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 during the period. Wealth Enhancement Advisory Services LLC raised 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 during the period. ProShare Advisors LLC raised its holdings 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 purchasing an additional 999 shares during the period. Finally, Graypoint LLC raised its holdings in Elanco Animal Health by 4.9% in the 1st quarter. Graypoint LLC now owns 26,845 shares of the company's stock worth $282,000 after purchasing an additional 1,256 shares during the period. 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.