Elanco Animal Health (NYSE:ELAN) Rating Increased to Outperform at William Blair

Elanco Animal Health (NYSE:ELAN - Get Free Report) was upgraded by equities research analysts at William Blair from a "market perform" rating to an "outperform" rating in a research note issued to investors on Thursday, Marketbeat reports.

Several other equities analysts have also recently commented on ELAN. Morgan Stanley reduced their price objective on shares of Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Piper Sandler reduced their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Barclays reduced their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus boosted their price objective on shares of Elanco Animal Health from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, UBS Group reduced their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $15.17.

Elanco Animal Health Stock Up 0.1%

Shares of Elanco Animal Health stock traded up $0.02 during trading hours on Thursday, reaching $14.32. The company's stock had a trading volume of 5,611,213 shares, compared to its average volume of 5,104,818. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.71. The stock's fifty day simple moving average is $12.39 and its two-hundred day simple moving average is $11.50. Elanco Animal Health has a one year low of $8.02 and a one year high of $15.78. The company has a market capitalization of $7.11 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.80 and a beta of 1.67.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. Elanco Animal Health had a net margin of 8.43% and a return on equity of 7.54%. The company's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, research analysts forecast that Elanco Animal Health will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Elanco Animal Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP grew its stake in Elanco Animal Health by 791.7% in the 1st quarter. Allworth Financial LP now owns 2,354 shares of the company's stock worth $25,000 after buying an additional 2,090 shares in the last quarter. CoreCap Advisors LLC purchased a new position in Elanco Animal Health in the 4th quarter worth approximately $29,000. Parallel Advisors LLC grew its stake in Elanco Animal Health by 92.2% in the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock worth $41,000 after buying an additional 1,852 shares in the last quarter. NBC Securities Inc. purchased a new position in Elanco Animal Health in the 1st quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp grew its stake in Elanco Animal Health by 95.6% in the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock worth $51,000 after buying an additional 2,059 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.