Elanco Animal Health (NYSE:ELAN) Sets New 52-Week Low - Should You Sell?

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.02 and last traded at $8.12, with a volume of 196559 shares trading hands. The stock had previously closed at $8.10.

Analysts Set New Price Targets

ELAN has been the topic of several recent analyst reports. Piper Sandler reduced their price target on shares of 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. UBS Group dropped their price objective on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus decreased their target price on Elanco Animal Health from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Morgan Stanley cut their price target on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, Barclays lowered their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.67.

Elanco Animal Health Stock Performance

The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $10.20 and a two-hundred day moving average of $11.76. The company has a market capitalization of $4.42 billion, a PE ratio of 22.24, a PEG ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. Research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $10.90 per share, with a total value of $109,000.00. Following the purchase, the director now owns 101,459 shares of the company's stock, valued at $1,105,903.10. The trade was a 10.93 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Elanco Animal Health by 1,153.6% during the 4th 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 last quarter. Dimensional Fund Advisors LP lifted its position in shares of Elanco Animal Health by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company's stock valued at $216,774,000 after acquiring an additional 1,074,274 shares in the last quarter. Shapiro Capital Management LLC boosted its stake in shares of Elanco Animal Health by 7.5% in the fourth quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company's stock worth $149,640,000 after acquiring an additional 862,900 shares during the last quarter. Magnetar Financial LLC increased its position in shares of Elanco Animal Health by 13.7% during the fourth quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock worth $145,711,000 after purchasing an additional 1,454,082 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company's stock valued at $147,747,000 after purchasing an additional 4,361,799 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.