Elanco Animal Health (NYSE:ELAN) Reaches New 52-Week High - What's Next?

Key Points

• Elanco Animal Health's stock reached a new 52-week high at $17.48, closing at $17.42 with a trading volume of 5.88 million shares.
• Analysts have improved their ratings for Elanco, with several firms raising their price targets, including Piper Sandler to $18.00 and UBS Group to $19.00.
• The company reported a revenue increase of 4.8% year-over-year and an EPS of $0.26, exceeding analysts' estimates of $0.20.

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $17.48 and last traded at $17.42, with a volume of 5883801 shares. The stock had previously closed at $17.10.

Analysts Set New Price Targets

ELAN has been the topic of a number of recent analyst reports. Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note 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. Piper Sandler increased their price target on Elanco Animal Health from $12.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday. Stifel Nicolaus increased their price target on Elanco Animal Health from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, UBS Group increased their price target on Elanco Animal Health from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health has an average rating of "Moderate Buy" and an average price target of $17.33.

Elanco Animal Health Trading Up 1.9%

The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 3.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 2.60. The business has a fifty day moving average price of $14.47 and a 200 day moving average price of $12.15.

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

Institutional Trading of Elanco Animal Health

Several large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its holdings in Elanco Animal Health by 3.1% in the 2nd quarter. Primecap Management Co. CA now owns 51,766,814 shares of the company's stock valued at $739,230,000 after purchasing an additional 1,543,279 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Elanco Animal Health by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,464,727 shares of the company's stock valued at $214,875,000 after purchasing an additional 2,563,740 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Elanco Animal Health by 1.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,983,391 shares of the company's stock valued at $167,826,000 after purchasing an additional 292,655 shares in the last quarter. Shapiro Capital Management LLC increased its holdings in Elanco Animal Health by 7.5% in the 4th quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company's stock valued at $149,640,000 after purchasing an additional 862,900 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Elanco Animal Health in the 1st quarter valued at $115,212,000. 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.

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