Elanco Animal Health (NYSE:ELAN) Hits New 52-Week Low – Should You Sell?

Elanco Animal Health Incorporated (NYSE:ELAN) hit a new 52-week low on Tuesday . The company traded as low as $10.20 and last traded at $10.19, with a volume of 1667596 shares trading hands. The stock had previously closed at $10.80.

Analyst Ratings Changes

A number of brokerages have weighed in on ELAN. Piper Sandler reduced their price objective on Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. UBS Group reduced their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley reduced their price objective on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.17.

Elanco Animal Health Price Performance

The stock has a fifty day moving average of $11.52 and a two-hundred day moving average of $12.81. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the acquisition, the director now owns 101,459 shares in the company, valued at $1,105,903.10. This represents a 10.93 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elanco Animal Health

Several hedge funds and other institutional investors have recently bought and sold shares of ELAN. Probity Advisors Inc. acquired a new position in shares of Elanco Animal Health in the 4th quarter worth approximately $160,000. Jefferies Financial Group Inc. acquired a new position in Elanco Animal Health during the 4th quarter valued at approximately $980,000. Forum Financial Management LP boosted its position in Elanco Animal Health by 22.7% during the 4th quarter. Forum Financial Management LP now owns 16,068 shares of the company’s stock valued at $195,000 after purchasing an additional 2,977 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Elanco Animal Health during the 4th quarter valued at approximately $2,122,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Elanco Animal Health by 13.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,716,929 shares of the company’s stock valued at $20,792,000 after purchasing an additional 206,482 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Company Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.