Elanco Animal Health (NASDAQ:ELAN) Receives $33.15 Average Price Target from Analysts

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Shares of Elanco Animal Health (NASDAQ:ELAN) have earned an average rating of “Hold” from the fifteen analysts that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $33.33.

Several research firms recently issued reports on ELAN. BMO Capital Markets increased their price target on shares of Elanco Animal Health from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Guggenheim began coverage on shares of Elanco Animal Health in a research report on Wednesday, May 22nd. They issued a “neutral” rating for the company. UBS Group raised shares of Elanco Animal Health from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $31.00 to $30.00 in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELAN. Bank of New York Mellon Corp purchased a new position in shares of Elanco Animal Health during the 4th quarter worth approximately $2,213,000. Northern Trust Corp purchased a new position in Elanco Animal Health in the 4th quarter valued at approximately $8,637,000. Two Sigma Advisers LP purchased a new position in Elanco Animal Health in the 4th quarter valued at approximately $1,050,000. Bank of America Corp DE increased its stake in Elanco Animal Health by 131.9% in the 4th quarter. Bank of America Corp DE now owns 29,371 shares of the company’s stock valued at $927,000 after purchasing an additional 16,705 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Elanco Animal Health in the 4th quarter valued at approximately $375,000.

NASDAQ:ELAN traded up $0.17 during mid-day trading on Friday, hitting $29.36. The company’s stock had a trading volume of 3,456,000 shares, compared to its average volume of 5,779,885. Elanco Animal Health has a fifty-two week low of $28.00 and a fifty-two week high of $37.61. The stock has a fifty day moving average of $32.76 and a 200-day moving average of $31.92.

Elanco Animal Health (NASDAQ:ELAN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $781.60 million during the quarter, compared to analyst estimates of $781.49 million. Elanco Animal Health’s revenue was up 1.5% compared to the same quarter last year.

Elanco Animal Health Company Profile

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Analyst Recommendations for Elanco Animal Health (NASDAQ:ELAN)

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