Elanco Animal Health (NYSE:ELAN) Raised to Weight at Morgan Stanley

Elanco Animal Health (NYSE:ELAN) was upgraded by equities researchers at Morgan Stanley from an “equal” rating to a “weight” rating in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a $32.00 target price on the stock, down from their prior target price of $34.00. Morgan Stanley’s target price indicates a potential upside of 17.52% from the company’s previous close.

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A number of other equities research analysts have also recently weighed in on the company. Goldman Sachs Group initiated coverage on Elanco Animal Health in a research note on Monday, September 9th. They issued a “positive” rating for the company. They noted that the move was a valuation call. Barclays initiated coverage on Elanco Animal Health in a research note on Monday, September 23rd. They issued an “overweight” rating and a $36.00 price objective for the company. UBS Group upgraded Elanco Animal Health from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $31.00 to $30.00 in a research note on Thursday, August 15th. Zacks Investment Research cut Elanco Animal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Finally, ValuEngine upgraded Elanco Animal Health from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.41.

NYSE ELAN traded up $0.31 on Thursday, reaching $27.23. The stock had a trading volume of 3,676,022 shares, compared to its average volume of 5,298,131. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.71 and a current ratio of 3.07. Elanco Animal Health has a 12-month low of $25.51 and a 12-month high of $35.46. The business’s 50-day moving average price is $26.87 and its 200 day moving average price is $30.28. The stock has a market cap of $10.03 billion, a P/E ratio of 23.08 and a beta of 0.69.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Elanco Animal Health had a return on equity of 7.83% and a net margin of 4.69%. The company had revenue of $771.30 million during the quarter, compared to analysts’ expectations of $765.85 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that Elanco Animal Health will post 1.08 earnings per share for the current year.

In related news, insider Michael-Bryant Hicks purchased 11,030 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $26.65 per share, for a total transaction of $293,949.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd S. Young purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $26.57 per share, with a total value of $265,700.00. Following the purchase, the insider now directly owns 28,883 shares of the company’s stock, valued at $767,421.31. The disclosure for this purchase can be found here. Insiders have bought 1,497,497 shares of company stock valued at $4,457,115 in the last 90 days. Company insiders own 0.04% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. First Allied Advisory Services Inc. grew its holdings in Elanco Animal Health by 11.3% during the third quarter. First Allied Advisory Services Inc. now owns 8,908 shares of the company’s stock worth $239,000 after acquiring an additional 905 shares during the period. Perennial Advisors LLC grew its holdings in Elanco Animal Health by 32.7% during the third quarter. Perennial Advisors LLC now owns 49,296 shares of the company’s stock worth $1,311,000 after acquiring an additional 12,145 shares during the period. Putnam FL Investment Management Co. acquired a new position in Elanco Animal Health during the third quarter worth $389,000. BBVA USA Bancshares Inc. grew its holdings in Elanco Animal Health by 11.3% during the third quarter. BBVA USA Bancshares Inc. now owns 13,708 shares of the company’s stock worth $364,000 after acquiring an additional 1,387 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its holdings in Elanco Animal Health by 15.5% during the third quarter. Vestmark Advisory Solutions Inc. now owns 25,108 shares of the company’s stock worth $668,000 after acquiring an additional 3,377 shares during the period.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.

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Analyst Recommendations for Elanco Animal Health (NYSE:ELAN)

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