Credit Suisse Group Reiterates “Buy” Rating for Elanco Animal Health (NYSE:ELAN)

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Elanco Animal Health (NYSE:ELAN)‘s stock had its “buy” rating restated by Credit Suisse Group in a report issued on Wednesday, AnalystRatings.com reports.

Several other brokerages have also recently issued reports on ELAN. Bank of America raised Elanco Animal Health from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, December 19th. TheStreet raised shares of Elanco Animal Health from a “d+” rating to a “c-” rating in a research note on Tuesday, December 24th. Raymond James started coverage on shares of Elanco Animal Health in a research report on Thursday, January 9th. They set a “market perform” rating for the company. Gabelli reiterated a “buy” rating on shares of Elanco Animal Health in a research report on Tuesday, January 14th. Finally, ValuEngine upgraded shares of Elanco Animal Health from a “hold” rating to a “buy” rating in a report on Wednesday, March 4th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $33.83.

Shares of ELAN traded up $1.01 during midday trading on Wednesday, hitting $19.62. 4,486,100 shares of the company traded hands, compared to its average volume of 6,817,675. The firm has a 50 day moving average of $26.56 and a 200-day moving average of $27.62. Elanco Animal Health has a 52 week low of $15.17 and a 52 week high of $35.46. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 103.27, a PEG ratio of 1.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.62 and a current ratio of 2.90.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Wednesday, February 19th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Elanco Animal Health had a return on equity of 7.33% and a net margin of 2.21%. The firm had revenue of $787.00 million for the quarter, compared to analysts’ expectations of $790.83 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Elanco Animal Health will post 1.11 earnings per share for the current fiscal year.

In other Elanco Animal Health news, Director John P. Bilbrey acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $25.15 per share, for a total transaction of $75,450.00. Following the acquisition, the director now directly owns 8,016 shares in the company, valued at $201,602.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R David Hoover acquired 3,900 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $27.40 per share, with a total value of $106,860.00. Following the acquisition, the director now owns 21,075 shares in the company, valued at $577,455. The disclosure for this purchase can be found here. In the last three months, insiders have bought 15,000 shares of company stock worth $388,329. Corporate insiders own 0.04% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. increased its stake in Elanco Animal Health by 49.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 16,315,711 shares of the company’s stock worth $480,499,000 after buying an additional 5,364,089 shares during the period. State Street Corp raised its position in Elanco Animal Health by 4.1% during the 4th quarter. State Street Corp now owns 10,167,561 shares of the company’s stock valued at $299,435,000 after purchasing an additional 404,210 shares in the last quarter. Janus Henderson Group PLC raised its position in Elanco Animal Health by 40.9% during the 4th quarter. Janus Henderson Group PLC now owns 9,942,738 shares of the company’s stock valued at $292,814,000 after purchasing an additional 2,885,708 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Elanco Animal Health by 31.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 9,235,520 shares of the company’s stock worth $271,986,000 after buying an additional 2,194,950 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Elanco Animal Health by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 4,193,978 shares of the company’s stock worth $123,509,000 after buying an additional 65,437 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

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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