Zacks Investment Research Lowers Elanco Animal Health (ELAN) to Hold

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Zacks Investment Research downgraded shares of Elanco Animal Health (NASDAQ:ELAN) from a buy rating to a hold rating in a report released on Tuesday 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. “

A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets lifted their price objective on Elanco Animal Health from $32.00 to $35.00 and gave the company a market perform rating in a research note on Friday, May 10th. UBS Group began coverage on Elanco Animal Health in a research note on Wednesday, March 20th. They issued a sell rating and a $28.00 price objective for the company. Bank of America raised Elanco Animal Health from a neutral rating to a buy rating and set a $30.95 price objective for the company in a research note on Monday, March 18th. Morgan Stanley began coverage on Elanco Animal Health in a research note on Wednesday, March 13th. They issued an equal weight rating and a $34.00 price objective for the company. Finally, William Blair began coverage on Elanco Animal Health in a research note on Monday, February 11th. They issued a market perform rating and a $29.71 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Elanco Animal Health presently has an average rating of Hold and a consensus target price of $33.47.

Shares of NASDAQ ELAN opened at $32.74 on Tuesday. Elanco Animal Health has a twelve month low of $28.00 and a twelve month high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The firm had revenue of $731.10 million during the quarter, compared to analyst estimates of $743.40 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year.

In related news, Director R David Hoover bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $31.43 per share, for a total transaction of $628,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Bilbrey bought 7,750 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $32.39 per share, with a total value of $251,022.50. The disclosure for this purchase can be found here.

A number of large investors have recently added to or reduced their stakes in the stock. Sterling Investment Advisors Ltd. purchased a new position in Elanco Animal Health in the first quarter valued at $25,000. Ropes Wealth Advisors LLC purchased a new position in Elanco Animal Health in the first quarter valued at $25,000. Water Island Capital LLC purchased a new position in Elanco Animal Health in the first quarter valued at $27,000. FTB Advisors Inc. purchased a new position in Elanco Animal Health in the first quarter valued at $29,000. Finally, Krensavage Asset Management LLC boosted its holdings in Elanco Animal Health by 0.5% in the fourth quarter. Krensavage Asset Management LLC now owns 200,967 shares of the company’s stock valued at $6,336,000 after purchasing an additional 967 shares during the period.

Elanco Animal Health Company Profile

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