Elanco Animal Health (NYSE:ELAN) Raised to “Outperform” at Leerink Partners

Elanco Animal Health (NYSE:ELAN) was upgraded by analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, MarketBeat reports. The firm currently has a $18.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 21.79% from the stock’s current price.

Other analysts have also issued reports about the company. Stifel Nicolaus lifted their price target on Elanco Animal Health from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded Elanco Animal Health from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Finally, William Blair upgraded Elanco Animal Health from a “market perform” rating to an “outperform” rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Elanco Animal Health Stock Down 1.2%

Shares of NYSE:ELAN opened at $14.78 on Thursday. The business’s 50 day simple moving average is $13.82 and its two-hundred day simple moving average is $11.79. The firm has a market cap of $7.34 billion, a P/E ratio of 19.97, a PEG ratio of 2.92 and a beta of 1.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.71. Elanco Animal Health has a 52-week low of $8.02 and a 52-week high of $15.78.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts forecast that Elanco Animal Health will post 0.91 EPS for the current fiscal year.

Institutional Trading of Elanco Animal Health

A number of large investors have recently bought and sold shares of ELAN. Bfsg LLC boosted its holdings in shares of Elanco Animal Health by 5.1% in the second quarter. Bfsg LLC now owns 26,973 shares of the company’s stock worth $385,000 after acquiring an additional 1,321 shares during the period. GAMMA Investing LLC boosted its stake in Elanco Animal Health by 540.4% during the second quarter. GAMMA Investing LLC now owns 7,557 shares of the company’s stock valued at $108,000 after buying an additional 6,377 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its stake in Elanco Animal Health by 16.9% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 53,180 shares of the company’s stock worth $759,000 after purchasing an additional 7,691 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Elanco Animal Health by 8.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,516 shares of the company’s stock worth $169,000 after purchasing an additional 944 shares during the last quarter. Finally, Westbourne Investments Inc. bought a new stake in Elanco Animal Health during the second quarter worth about $170,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.