Elanco Animal Health (NYSE:ELAN) Updates Q2 2022 Earnings Guidance

Elanco Animal Health (NYSE:ELAN – Get Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.22-$0.28 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $1.16 billion-$1.20 billion, compared to the consensus revenue estimate of $1.27 billion.Elanco Animal Health also updated its FY 2022 guidance to $1.15-$1.21 EPS.

Elanco Animal Health stock opened at $22.27 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.44 and a quick ratio of 1.16. The stock has a market capitalization of $10.56 billion, a PE ratio of -30.09, a price-to-earnings-growth ratio of 1.08 and a beta of 0.74. Elanco Animal Health has a 12-month low of $20.51 and a 12-month high of $37.49. The firm has a 50 day simple moving average of $25.69 and a 200-day simple moving average of $27.48.

Elanco Animal Health (NYSE:ELAN – Get Rating) last released its quarterly earnings data on Monday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Elanco Animal Health had a negative net margin of 7.65% and a positive return on equity of 6.61%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts forecast that Elanco Animal Health will post 1.17 earnings per share for the current fiscal year.

ELAN has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Elanco Animal Health from $30.00 to $32.00 and gave the stock an equal weight rating in a research report on Monday, February 28th. Zacks Investment Research downgraded Elanco Animal Health from a hold rating to a sell rating in a report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $38.43.

In related news, Director R David Hoover acquired 5,000 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were bought at an average cost of $28.66 per share, with a total value of $143,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Bilbrey purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average price of $22.03 per share, with a total value of $220,300.00. Following the completion of the purchase, the director now directly owns 34,222 shares of the company’s stock, valued at approximately $753,910.66. The disclosure for this purchase can be found here. 6.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd raised its position in Elanco Animal Health by 1,285.1% in the first quarter. Covestor Ltd now owns 2,978 shares of the company’s stock worth $78,000 after purchasing an additional 2,763 shares in the last quarter. Pearl River Capital LLC bought a new stake in Elanco Animal Health during the first quarter worth about $205,000. MetLife Investment Management LLC bought a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $232,000. Metropolitan Life Insurance Co NY bought a new stake in shares of Elanco Animal Health during the fourth quarter valued at approximately $252,000. Finally, XTX Topco Ltd acquired a new stake in Elanco Animal Health in the first quarter worth $283,000.

About Elanco Animal Health (Get Rating)

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.

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