Elanco Animal Health (NYSE:ELAN) Price Target Raised to $23.00

Elanco Animal Health (NYSE:ELAN - Free Report) had its target price upped by Barclays from $19.00 to $23.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently commented on ELAN. The Goldman Sachs Group boosted their price objective on Elanco Animal Health from $12.50 to $14.00 and gave the stock a sell rating in a research note on Tuesday, February 27th. TheStreet raised shares of Elanco Animal Health from a d+ rating to a c- rating in a report on Friday, February 23rd. Finally, Morgan Stanley boosted their target price on Elanco Animal Health from $16.00 to $17.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Elanco Animal Health currently has a consensus rating of Moderate Buy and a consensus price target of $17.29.

Elanco Animal Health Stock Performance

Shares of ELAN traded up $0.31 during mid-day trading on Thursday, reaching $17.20. 7,379,085 shares of the company's stock traded hands, compared to its average volume of 4,584,957. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75. The business's 50-day moving average price is $14.98 and its 200-day moving average price is $14.04. The stock has a market capitalization of $8.50 billion, a P/E ratio of -6.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34. Elanco Animal Health has a 12 month low of $7.88 and a 12 month high of $17.43.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts predict that Elanco Animal Health will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $16.14 per share, with a total value of $322,800.00. Following the acquisition, the director now directly owns 185,000 shares of the company's stock, valued at approximately $2,985,900. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.57% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ELAN. Picton Mahoney Asset Management lifted its stake in shares of Elanco Animal Health by 2.5% during the first quarter. Picton Mahoney Asset Management now owns 271,917 shares of the company's stock valued at $4,426,000 after acquiring an additional 6,647 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Elanco Animal Health by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 506,292 shares of the company's stock valued at $8,242,000 after buying an additional 24,966 shares during the period. Russell Investments Group Ltd. boosted its stake in Elanco Animal Health by 32.8% in the first quarter. Russell Investments Group Ltd. now owns 46,571 shares of the company's stock valued at $758,000 after acquiring an additional 11,490 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Elanco Animal Health during the 1st quarter worth $340,000. Finally, Sei Investments Co. lifted its stake in shares of Elanco Animal Health by 0.9% in the 1st quarter. Sei Investments Co. now owns 1,024,822 shares of the company's stock valued at $16,684,000 after purchasing an additional 8,783 shares during the period. Institutional investors and hedge funds own 97.48% of the company's stock.

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.