Elanco Animal Health (NYSE:ELAN) Trading Down 4.6%

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report)'s stock price was down 4.6% during mid-day trading on Friday . The company traded as low as $12.94 and last traded at $12.94. Approximately 1,947,957 shares traded hands during trading, a decline of 55% from the average daily volume of 4,348,066 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ELAN shares. TheStreet upgraded Elanco Animal Health from a "d+" rating to a "c-" rating in a report on Friday, February 23rd. Morgan Stanley raised their price target on Elanco Animal Health from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. The Goldman Sachs Group raised their price target on Elanco Animal Health from $12.50 to $14.00 and gave the company a "sell" rating in a research note on Tuesday, February 27th. Barclays raised their price target on Elanco Animal Health from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus upgraded Elanco Animal Health from a "hold" rating to a "buy" rating and raised their price target for the company from $13.00 to $20.00 in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.71.

Elanco Animal Health Stock Performance

The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -5.18, a PEG ratio of 1.41 and a beta of 1.29. The company has a fifty day moving average of $15.66 and a two-hundred day moving average of $13.65. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.35 and a current ratio of 2.75.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. Elanco Animal Health had a positive return on equity of 6.44% and a negative net margin of 27.87%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. As a group, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Elanco Animal Health

In other Elanco Animal Health news, Director R David Hoover purchased 20,000 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $16.14 per share, for a total transaction of $322,800.00. Following the purchase, the director now owns 185,000 shares in the company, valued at approximately $2,985,900. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently modified their holdings of ELAN. Shapiro Capital Management LLC grew its position in Elanco Animal Health by 1,763.6% during the 4th quarter. Shapiro Capital Management LLC now owns 13,522,352 shares of the company's stock worth $165,243,000 after acquiring an additional 12,796,752 shares during the last quarter. JPMorgan Chase & Co. grew its position in Elanco Animal Health by 211.3% during the 1st quarter. JPMorgan Chase & Co. now owns 11,073,913 shares of the company's stock worth $104,095,000 after acquiring an additional 7,516,372 shares during the last quarter. Norges Bank bought a new stake in Elanco Animal Health during the 4th quarter worth $82,309,000. Holocene Advisors LP bought a new stake in Elanco Animal Health during the 2nd quarter worth $49,998,000. Finally, Balyasny Asset Management L.P. grew its position in Elanco Animal Health by 698,280.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 4,085,527 shares of the company's stock worth $38,404,000 after acquiring an additional 4,084,942 shares during the last quarter. Institutional investors 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.