Elanco Animal Health (ELAN) Price Target Cut to $1.13

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Elanco Animal Health (NASDAQ:ELAN) had its target price lowered by BMO Capital Markets from $32.00 to $1.13 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential downside of 96.37% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other brokerages have also recently commented on ELAN. Bank of America began coverage on shares of Elanco Animal Health in a research report on Monday, October 15th. They set a “neutral” rating and a $34.00 price target on the stock. Goldman Sachs Group began coverage on shares of Elanco Animal Health in a research report on Monday, October 15th. They set a “neutral” rating and a $30.00 price target on the stock. Morgan Stanley began coverage on shares of Elanco Animal Health in a research report on Monday, October 15th. They set an “equal weight” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Elanco Animal Health in a research report on Monday, October 15th. They set an “overweight” rating and a $38.00 price target on the stock. Finally, Cowen began coverage on shares of Elanco Animal Health in a research report on Monday, October 15th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Elanco Animal Health currently has an average rating of “Hold” and an average target price of $31.01.

Shares of Elanco Animal Health stock opened at $31.10 on Wednesday. Elanco Animal Health has a 1-year low of $30.10 and a 1-year high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $761.10 million for the quarter, compared to the consensus estimate of $766.26 million. During the same period in the previous year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis.

In other Elanco Animal Health news, Director Lawrence Erik Kurzius bought 10,000 shares of the business’s stock in a transaction on Monday, September 24th. The shares were purchased at an average price of $24.00 per share, with a total value of $240,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey N. Simmons bought 22,000 shares of the business’s stock in a transaction on Monday, September 24th. The stock was acquired at an average cost of $24.00 per share, for a total transaction of $528,000.00. The disclosure for this purchase can be found here. Insiders have bought 33,000 shares of company stock worth $792,000 in the last ninety days.

A number of hedge funds and other institutional investors have recently modified their holdings of ELAN. First Manhattan Co. bought a new position in Elanco Animal Health in the third quarter worth about $348,000. Massachusetts Financial Services Co. MA bought a new position in Elanco Animal Health in the third quarter worth about $48,580,000. FNY Investment Advisers LLC bought a new position in Elanco Animal Health in the third quarter worth about $456,000. Daiwa Securities Group Inc. bought a new position in Elanco Animal Health in the third quarter worth about $425,000. Finally, Wells Fargo & Company MN bought a new position in Elanco Animal Health in the third quarter worth about $79,056,000.

Elanco Animal Health Company Profile

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