Elanco Animal Health (NYSE:ELAN) Share Price Crosses Above 50-Day Moving Average After Analyst Downgrade

Key Points

• Elanco shares crossed above their 50-day moving average, reaching $23.25 and closing near $23.247, despite Weiss Ratings only improving its rating from “sell” to “sell (d+).”
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $29.33, well above the recent share price.
• The company reported quarterly EPS of $0.34, beating estimates by $0.07, while revenue rose 10.2% year over year to $1.37 billion. Insiders purchased 63,198 shares worth $1.47 million over the past 90 days, and institutional investors own 97.48% of the stock.

Elanco Animal Health Incorporated (NYSE:ELAN - Get Free Report) passed above its 50-day moving average during trading on Thursday after Weiss Ratings upgraded the stock from a sell (d) rating to a sell (d+) rating. The stock has a 50-day moving average of $23.14 and traded as high as $23.25. Elanco Animal Health shares last traded at $23.2470, with a volume of 3,486,080 shares trading hands.

A number of other equities research analysts have also weighed in on the company. Piper Sandler reaffirmed an "overweight" rating on shares of Elanco Animal Health in a research report on Monday, June 29th. UBS Group lifted their price objective on Elanco Animal Health from $31.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Elanco Animal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. KeyCorp raised their target price on shares of Elanco Animal Health from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, TD Cowen increased their price objective on shares of Elanco Animal Health from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.33.

Insider Activity

In related news, Director Michael Harrington acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $21.82 per share, with a total value of $109,100.00. Following the completion of the transaction, the director directly owned 131,451 shares in the company, valued at $2,868,260.82. This trade represents a 3.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Kurzius bought 40,000 shares of the business's stock in a transaction on Thursday, August 20th. The stock was bought at an average price of $23.40 per share, for a total transaction of $936,000.00. Following the purchase, the director directly owned 188,647 shares of the company's stock, valued at $4,414,339.80. The trade was a 26.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 63,198 shares of company stock worth $1,473,109 over the last ninety days. 1.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Elanco Animal Health in the second quarter valued at approximately $1,202,198,000. Primecap Management Co. CA purchased a new stake in shares of Elanco Animal Health during the 2nd quarter valued at $1,118,402,000. State Street Corp lifted its holdings in shares of Elanco Animal Health by 4.7% during the 2nd quarter. State Street Corp now owns 16,063,046 shares of the company's stock valued at $395,312,000 after purchasing an additional 726,567 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Elanco Animal Health in the 2nd quarter worth $205,636,000. Finally, Sei Investments Co. boosted its position in shares of Elanco Animal Health by 737.5% in the 1st quarter. Sei Investments Co. now owns 5,650,393 shares of the company's stock worth $135,214,000 after purchasing an additional 4,975,721 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Elanco Animal Health Price Performance

The stock has a 50-day moving average price of $23.14 and a two-hundred day moving average price of $23.82. The company has a current ratio of 2.05, a quick ratio of 1.10 and a debt-to-equity ratio of 0.58. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of -56.70, a PEG ratio of 2.01 and a beta of 1.70.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.07. Elanco Animal Health had a positive return on equity of 8.13% and a negative net margin of 3.96%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $0.26 EPS. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. Elanco Animal Health has set its Q3 2026 guidance at 0.190-0.220 EPS and its FY 2026 guidance at 1.100-1.160 EPS. As a group, equities research analysts forecast that Elanco Animal Health Incorporated will post 1.13 EPS for the current year.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated is a global animal health company that develops, manufactures and markets products for pets and food-producing animals. Its portfolio is designed to help prevent and treat disease, control parasites and support the health and productivity of animals.

The company's products include vaccines, parasiticides, antibiotics, nutritional supplements and other prescription and over-the-counter therapies. Its companion animal offerings address conditions such as flea and tick infestations, internal parasites, osteoarthritis and dermatological disorders, while its farm animal products support the health of cattle, poultry, swine and aquaculture species.

Elanco serves customers in markets around the world through relationships with veterinarians, animal owners, livestock producers, retailers and distributors.

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