Elanco Animal Health (NYSE:ELAN) Stock Price Up 4.3% - Still a Buy?

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report)'s share price was up 4.3% on Wednesday . The company traded as high as $14.09 and last traded at $14.10. Approximately 1,233,306 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 5,224,116 shares. The stock had previously closed at $13.51.

Analyst Ratings Changes

ELAN has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. UBS Group lowered their price target on Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus increased their target price on Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Finally, Piper Sandler dropped 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.17.

Elanco Animal Health Price Performance

The company has a 50-day moving average of $12.04 and a 200 day moving average of $11.48. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $6.88 billion, a PE ratio of 18.71, a PEG ratio of 2.61 and a beta of 1.67.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.06. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. Elanco Animal Health had a net margin of 8.43% and a return on equity of 7.54%. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Sell-side analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Elanco Animal Health

A number of institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings 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 buying an additional 37,022,891 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Elanco Animal Health by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,464,727 shares of the company's stock worth $214,875,000 after purchasing an additional 2,563,740 shares during the last quarter. T. Rowe Price Investment Management Inc. raised 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 buying an additional 292,655 shares during the period. Shapiro Capital Management LLC increased its position in shares of Elanco Animal Health by 7.5% during the fourth quarter. Shapiro Capital Management LLC now owns 12,356,702 shares of the company's stock valued at $149,640,000 after acquiring an additional 862,900 shares during the last quarter. Finally, Magnetar Financial LLC raised its stake in shares of Elanco Animal Health by 13.7% in the 4th quarter. Magnetar Financial LLC now owns 12,032,325 shares of the company's stock valued at $145,711,000 after acquiring an additional 1,454,082 shares during the period. 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.

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