Leerink Partners Upgrades Elanco Animal Health (NYSE:ELAN) to "Outperform"

Elanco Animal Health (NYSE:ELAN - Get Free Report) was upgraded by Leerink Partners from a "market perform" rating to an "outperform" rating in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a $18.00 price objective on the stock. Leerink Partners' price objective would suggest a potential upside of 24.06% from the company's current price.

Other analysts have also recently issued research reports about the company. William Blair upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Stifel Nicolaus upped their price target 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. Finally, Wall Street Zen upgraded Elanco Animal Health from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $16.00.

Elanco Animal Health Stock Down 0.7%

Elanco Animal Health stock opened at $14.51 on Thursday. The stock has a market cap of $7.21 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.86 and a beta of 1.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.71. Elanco Animal Health has a one year low of $8.02 and a one year high of $15.78. The stock has a fifty day moving average of $13.71 and a 200 day moving average of $11.75.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. Elanco Animal Health'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 business earned $0.34 earnings per share. As a group, sell-side analysts predict that Elanco Animal Health will post 0.91 EPS for the current year.

Institutional Trading of Elanco Animal Health

A number of hedge funds and other institutional investors have recently bought and sold shares of ELAN. FMR LLC grew its position in shares of Elanco Animal Health by 1,153.6% during the fourth 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 in the last quarter. Nuveen LLC purchased a new stake in shares of Elanco Animal Health during the first quarter worth about $115,212,000. Norges Bank purchased a new stake in shares of Elanco Animal Health during the fourth quarter worth about $47,424,000. Dimensional Fund Advisors LP grew its position in shares of Elanco Animal Health by 14.3% during the first 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Elanco Animal Health by 104.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company's stock worth $50,268,000 after purchasing an additional 2,445,872 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

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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