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Elanco Animal Health (NYSE:ELAN) Rating Increased to Outperform at Leerink Partners

Elanco Animal Health logo with Medical background

Leerink Partners upgraded shares of Elanco Animal Health (NYSE:ELAN - Free Report) from a market perform rating to an outperform rating in a research note published on Thursday, Marketbeat.com reports. They currently have $18.00 price objective on the stock.

ELAN has been the subject of several other research reports. William Blair raised shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating in a report on Thursday, June 26th. Wall Street Zen upgraded Elanco Animal Health from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Finally, Stifel Nicolaus increased their target price 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.00.

View Our Latest Analysis on Elanco Animal Health

Elanco Animal Health Stock Down 1.2%

Shares of ELAN traded down $0.18 during mid-day trading on Thursday, hitting $14.78. 3,045,323 shares of the company's stock were exchanged, compared to its average volume of 5,034,032. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.71 and a quick ratio of 1.46. Elanco Animal Health has a 52 week low of $8.02 and a 52 week high of $15.78. The company has a market cap of $7.34 billion, a PE ratio of 19.97, a P/E/G ratio of 2.88 and a beta of 1.67. The company has a 50-day simple moving average of $13.82 and a 200 day simple moving average of $11.79.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations 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 last year, the company posted $0.34 earnings per share. On average, research analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Elanco Animal Health by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,900,987 shares of the company's stock worth $216,774,000 after purchasing an additional 1,074,274 shares during the period. Yousif Capital Management LLC bought a new position in Elanco Animal Health during the first quarter worth $119,000. Wealth Enhancement Advisory Services LLC bought a new stake in Elanco Animal Health in the 1st quarter valued at about $111,000. Cinctive Capital Management LP acquired a new position in shares of Elanco Animal Health during the fourth quarter worth approximately $627,000. Finally, SG Americas Securities LLC acquired a new position in shares of Elanco Animal Health during the first quarter valued at about $891,000. Institutional investors own 97.48% of the company's stock.

About Elanco Animal Health

(Get Free Report)

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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Analyst Recommendations for Elanco Animal Health (NYSE:ELAN)

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