Elanco Animal Health (NYSE:ELAN – Get a score) on Tuesday updated its Q3 2022 earnings guidance. The company provided EPS guidance of $0.12 to $0.18 for the period, compared to the EPS estimate of consensus of $0.26. The company issued revenue guidance of $1.01 billion to $1.06 billion, compared to the consensus revenue estimate of $1.14 billion. Elanco Animal Health also upgraded its FY2022 guidance to $1.06-$1.13 EPS.
Wall Street analysts weigh in
Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut Elanco Animal Health from an overweight rating to a neutral rating and cut their price target for the company from $28.00 to $24.00 in a research note on Tuesday. Stifel Nicolaus dropped their target price on Elanco Animal Health from $30.00 to $22.00 and set a hold rating for the company in a research note on Friday, June 24th. Goldman Sachs Group cut Elanco Animal Health from a buy rating to a sell rating and cut their price objective for the stock from $32.00 to $19.00 in a research note on Thursday, the 21st of July Piper Sandler assumed coverage on Elanco Animal Health in a research note on Monday, July 11th. They issued a neutral rating and a $22.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on Elanco Animal Health to $37.00 and set an overweight rating for the company in a research note on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $26.00, based on data from MarketBeat.
Elanco Animal Health Price Performance
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Shares of NYSE:ELAN traded down $0.75 during trading on Tuesday, reaching $18.61. The stock had a trading volume of 77,056 shares, compared to its average volume of 5,144,463. Elanco Animal Health has a one year low of $18.64 and a one year high of $35.00. The stock has a market cap of $8.82 billion, a PE ratio of -55.31, a PEG ratio of 2.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.47, and a current ratio of 2.47. The company has a fifty day moving average price of $20.45 and a 200 day moving average price of $23.73.
Elanco Animal Health (NYSE:ELAN – Get a score) last released its quarterly earnings data on Monday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.11. Elanco Animal Health had a positive return on equity of 7.40% and a negative net margin of 3.77%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business earned $0.28 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Elanco Animal Health will post 1.1 earnings per share for the current fiscal year.
Privileged deals at Elanco Animal Health
In other Elanco Animal Health news, Director R David Hoover acquired 10,000 shares of the stock in a transaction dated Friday, May 20th. The stock was acquired at an average cost of $23.33 per share, with a total value of $233,300.00. Following the transaction, the director now owns 125,000 shares in the company, valued at approximately $2,916,250. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.40% of the company’s shares.
Institutional Trade of Elanco Animal Health
Institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC raised its stake in Elanco Animal Health by 5.0% during the second quarter. LPL Financial LLC now owns 72,644 shares of the company’s stock valued at $1,426,000 after acquiring an additional 3,456 shares during the last quarter. UBS Group AG raised its stake in shares of Elanco Animal Health by 41.2% during the second quarter. UBS Group AG now owns 167,467 shares of the company’s stock worth $3,287,000 after purchasing an additional 48,862 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Elanco Animal Health by 14.9% during the first quarter. Neuberger Berman Group LLC now owns 11,071 shares of the company’s stock worth $289,000 after purchasing an additional 1,432 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Elanco Animal Health by 10,808.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 872,278 shares of the company’s stock worth $22,814,000 after acquiring an additional 864,282 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in shares of Elanco Animal Health by 15.2% during the first quarter. Gabelli Funds LLC now owns 144,000 shares of the company’s stock worth $3,757,000 after acquiring an additional 19,000 shares during the period.
About Elanco Animal Health
Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures and markets products for pets and farm animals. Offers disease prevention products for pet health, including parasiticide products and vaccines 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 dermatological 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 pig production under the brands Rumensin and Baytril.
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