Elanco Animal Health (NYSE:ELAN) Earns Positive Rating from Analysts at Goldman Sachs Group

Goldman Sachs Group assumed coverage on shares of Elanco Animal Health (NYSE:ELAN) in a research report sent to investors on Monday, The Fly reports. The firm issued a positive rating on the stock. The analysts noted that the move was a valuation call.

Other research analysts also recently issued reports about the company. UBS Group upgraded Elanco Animal Health from a sell rating to a neutral rating and reduced their target price for the stock from $31.00 to $30.00 in a research note on Thursday, August 15th. Bank of America downgraded Elanco Animal Health from a buy rating to a neutral rating and set a $30.00 price target for the company. in a research note on Monday, August 26th. Guggenheim initiated coverage on Elanco Animal Health in a research note on Wednesday, May 22nd. They issued a neutral rating for the company. Finally, Zacks Investment Research downgraded Elanco Animal Health from a hold rating to a sell rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $33.64.

Shares of NYSE ELAN opened at $28.74 on Monday. The company has a current ratio of 3.07, a quick ratio of 1.71 and a debt-to-equity ratio of 0.45. Elanco Animal Health has a 12 month low of $25.51 and a 12 month high of $37.61. The stock has a 50 day moving average of $29.34 and a 200-day moving average of $31.56. The company has a market capitalization of $9.87 billion and a P/E ratio of 24.36.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Tuesday, August 13th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Elanco Animal Health had a return on equity of 7.83% and a net margin of 4.69%. The company had revenue of $781.60 million during the quarter, compared to the consensus estimate of $781.49 million. Elanco Animal Health’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts predict that Elanco Animal Health will post 1.08 EPS for the current fiscal year.

In related news, Director R David Hoover acquired 15,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $26.96 per share, with a total value of $404,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey N. Simmons acquired 75,750 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average cost of $26.55 per share, with a total value of $2,011,162.50. Following the completion of the acquisition, the chief executive officer now directly owns 470,006 shares in the company, valued at $12,478,659.30. The disclosure for this purchase can be found here. Insiders acquired a total of 111,780 shares of company stock valued at $2,975,212 over the last ninety days. Insiders own 0.04% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ELAN. Citizens Financial Group Inc RI raised its holdings in shares of Elanco Animal Health by 26.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 1,875 shares of the company’s stock worth $63,000 after buying an additional 393 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Elanco Animal Health by 1.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,000 shares of the company’s stock worth $1,115,000 after buying an additional 500 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Elanco Animal Health by 6.4% during the 2nd quarter. Brown Advisory Inc. now owns 10,631 shares of the company’s stock worth $359,000 after buying an additional 643 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Elanco Animal Health by 68.1% during the 2nd quarter. Zions Bancorporation N.A. now owns 1,750 shares of the company’s stock worth $59,000 after buying an additional 709 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in shares of Elanco Animal Health by 41.6% during the 2nd quarter. First Mercantile Trust Co. now owns 2,850 shares of the company’s stock worth $96,000 after buying an additional 837 shares in the last quarter.

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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