Piper Sandler Reiterates Neutral Rating for Elanco Animal Health (NYSE:ELAN)

Elanco Animal Health (NYSE:ELAN - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at Piper Sandler in a research note issued on Monday, Benzinga reports. They presently have a $19.00 price target on the stock, up from their prior price target of $18.00. Piper Sandler's price objective would suggest a potential upside of 11.73% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Elanco Animal Health from $19.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday. Morgan Stanley boosted their target price on shares of Elanco Animal Health from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 27th. TheStreet raised Elanco Animal Health from a "d+" rating to a "c-" rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group raised their target price on Elanco Animal Health from $12.50 to $14.00 and gave the stock a "sell" rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health has a consensus rating of "Moderate Buy" and an average target price of $18.29.

Elanco Animal Health Price Performance

ELAN stock remained flat at $17.01 during midday trading on Monday. 3,491,660 shares of the company's stock traded hands, compared to its average volume of 4,563,666. The firm has a 50-day moving average of $15.02 and a 200-day moving average of $14.18. The company has a market cap of $8.40 billion, a price-to-earnings ratio of -6.43, a P/E/G ratio of 1.76 and a beta of 1.34. The company has a quick ratio of 1.96, a current ratio of 3.29 and a debt-to-equity ratio of 0.95. Elanco Animal Health has a 52 week low of $7.88 and a 52 week high of $17.43.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. Elanco Animal Health had a positive return on equity of 5.98% and a negative net margin of 29.83%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business posted $0.45 earnings per share. Elanco Animal Health's revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Elanco Animal Health will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Elanco Animal Health

In related news, Director R David Hoover bought 20,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $16.14 per share, for a total transaction of $322,800.00. Following the purchase, the director now 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 accessible through the SEC website. Insiders own 0.57% of the company's stock.

Institutional Trading of Elanco Animal Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in Elanco Animal Health during the fourth quarter worth $37,000. Tower Research Capital LLC TRC boosted its holdings in Elanco Animal Health by 169.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,212 shares of the company's stock worth $93,000 after buying an additional 3,906 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Elanco Animal Health during the third quarter worth about $95,000. C M Bidwell & Associates Ltd. purchased a new position in Elanco Animal Health in the third quarter valued at about $129,000. Finally, Innovis Asset Management LLC acquired a new stake in shares of Elanco Animal Health during the 3rd quarter valued at approximately $144,000. 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.