Elanco Animal Health (NYSE:ELAN) Lifted to “Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Elanco Animal Health (NYSE:ELAN) from an equal rating to a weight rating in a research note released on Thursday morning, 24/7 WallStreet reports. The firm currently has $32.00 price objective on the stock, down from their prior price objective of $34.00.

A number of other equities analysts have also recently commented on ELAN. Zacks Investment Research cut Elanco Animal Health from a hold rating to a sell rating in a report on Tuesday, October 15th. ValuEngine upgraded Elanco Animal Health from a hold rating to a buy rating in a report on Wednesday, October 2nd. Barclays initiated coverage on Elanco Animal Health in a report on Monday, September 23rd. They set an overweight rating and a $36.00 target price for the company. Bank of America cut Elanco Animal Health from a buy rating to a neutral rating and set a $30.00 target price for the company. in a report on Monday, August 26th. Finally, Cleveland Research restated a hold rating on shares of Elanco Animal Health in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $33.41.

Shares of NYSE ELAN traded up $0.31 during mid-day trading on Thursday, reaching $27.23. 3,676,022 shares of the company’s stock were exchanged, compared to its average volume of 5,298,131. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 23.08 and a beta of 0.69. 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 52-week low of $25.51 and a 52-week high of $35.46. The company’s 50-day moving average is $26.87 and its 200-day moving average is $30.28.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $0.29 EPS. Elanco Animal Health’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Elanco Animal Health will post 1.08 earnings per share for the current fiscal year.

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In related news, major shareholder Dawei Li purchased 1,384,717 shares of Elanco Animal Health stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of $1.05 per share, with a total value of $1,453,952.85. Also, Director Deborah Turner Kochevar purchased 1,000 shares of Elanco Animal Health stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $27.95 per share, for a total transaction of $27,950.00. Insiders have purchased a total of 1,497,497 shares of company stock valued at $4,457,115 over the last 90 days. 0.04% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of ELAN. South Texas Money Management Ltd. acquired a new stake in Elanco Animal Health in the 2nd quarter valued at about $19,901,000. DNB Asset Management AS raised its position in Elanco Animal Health by 28.3% in the 2nd quarter. DNB Asset Management AS now owns 27,251 shares of the company’s stock valued at $921,000 after purchasing an additional 6,004 shares in the last quarter. Supplemental Annuity Collective Trust of NJ acquired a new stake in Elanco Animal Health in the 2nd quarter valued at about $507,000. Zions Bancorporation N.A. raised its position in Elanco Animal Health by 68.1% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,750 shares of the company’s stock valued at $59,000 after purchasing an additional 709 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new stake in Elanco Animal Health in the 2nd quarter valued at about $321,000.

About Elanco Animal Health

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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