Elanco Animal Health (NYSE:ELAN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Elanco Animal Health (NYSE:ELAN) from a hold rating to a sell rating in a report published on Monday morning, Zacks.com reports.

According to Zacks, “Elanco Animal Health Incorporated operates as an animal health care company. It develops, manufactures and markets products for companion and food animals. Elanco Animal Health Incorporated is based in Greenfield, United States. “

ELAN has been the subject of several other reports. Cleveland Research upgraded Elanco Animal Health from an underperform rating to a neutral rating in a research note on Tuesday, June 15th. Credit Suisse Group initiated coverage on Elanco Animal Health in a report on Thursday, August 5th. They set an outperform rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $37.75.

Shares of NYSE:ELAN opened at $32.03 on Monday. The business’s fifty day moving average price is $32.49 and its two-hundred day moving average price is $33.14. The stock has a market cap of $15.15 billion, a PE ratio of -21.35, a price-to-earnings-growth ratio of 0.66 and a beta of 0.83. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.72. Elanco Animal Health has a one year low of $26.72 and a one year high of $37.49.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Sunday, August 8th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Elanco Animal Health had a positive return on equity of 5.24% and a negative net margin of 16.02%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm earned ($0.09) EPS. Elanco Animal Health’s quarterly revenue was up 118.3% on a year-over-year basis. As a group, equities research analysts predict that Elanco Animal Health will post 1 earnings per share for the current fiscal year.

In other news, Director Michael J. Harrington bought 3,000 shares of the firm’s stock in a transaction on Wednesday, August 11th. The shares were purchased at an average cost of $28.98 per share, with a total value of $86,940.00. Following the acquisition, the director now directly owns 25,684 shares in the company, valued at $744,322.32. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Elanco Animal Health Inc bought 45,508,938 shares of the firm’s stock in a transaction on Friday, August 27th. The stock was purchased at an average cost of $9.25 per share, for a total transaction of $420,957,676.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 45,528,788 shares of company stock valued at $421,545,062. 6.11% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ELAN. Tompkins Financial Corp bought a new position in Elanco Animal Health in the 1st quarter valued at about $27,000. Captrust Financial Advisors bought a new stake in shares of Elanco Animal Health during the 1st quarter valued at approximately $28,000. Berman Capital Advisors LLC grew its holdings in shares of Elanco Animal Health by 155.2% during the 2nd quarter. Berman Capital Advisors LLC now owns 929 shares of the company’s stock valued at $32,000 after purchasing an additional 565 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Elanco Animal Health by 216.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,200 shares of the company’s stock valued at $35,000 after purchasing an additional 821 shares during the last quarter. Finally, Proequities Inc. boosted its position in Elanco Animal Health by 37.8% during the 1st quarter. Proequities Inc. now owns 1,239 shares of the company’s stock worth $36,000 after buying an additional 340 shares during the period. 99.58% of the stock is currently owned by hedge funds and other institutional investors.

About Elanco Animal Health

Elanco Animal Health, Inc engages in the innovation, development, manufacture and market products for companion and food animals. It offers products through the following four categories: Companion Animal Disease Prevention, Companion Animal Therapeutics, Food Animal Future Protein & Health, and Food Animal Ruminants & Swine.

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