Elanco Animal Health (ELAN) Given Average Rating of “Hold” by Brokerages

Shares of Elanco Animal Health (NASDAQ:ELAN) have been assigned an average recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $34.38.

ELAN has been the topic of several analyst reports. Craig Hallum initiated coverage on Elanco Animal Health in a report on Friday, October 12th. They set a “hold” rating on the stock. Bank of America initiated coverage on Elanco Animal Health in a report on Monday, October 15th. They set a “neutral” rating and a $34.00 target price on the stock. Credit Suisse Group initiated coverage on Elanco Animal Health in a report on Monday, October 15th. They set a “neutral” rating and a $36.00 target price on the stock. Morgan Stanley initiated coverage on Elanco Animal Health in a report on Monday, October 15th. They set an “equal weight” rating and a $35.00 target price on the stock. Finally, Goldman Sachs Group initiated coverage on Elanco Animal Health in a report on Monday, October 15th. They set a “neutral” rating and a $30.00 target price on the stock.

ELAN stock opened at $33.82 on Friday. Elanco Animal Health has a fifty-two week low of $30.10 and a fifty-two week high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $761.10 million for the quarter, compared to analyst estimates of $766.26 million. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 earnings per share.

In related news, CEO Jeffrey N. Simmons bought 22,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were acquired at an average price of $24.00 per share, for a total transaction of $528,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were bought at an average price of $24.00 per share, for a total transaction of $240,000.00. The disclosure for this purchase can be found here. Insiders have purchased 33,000 shares of company stock worth $792,000 in the last quarter.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELAN. Rockefeller Capital Management L.P. bought a new stake in Elanco Animal Health in the third quarter valued at approximately $274,000. First Manhattan Co. bought a new stake in Elanco Animal Health in the third quarter valued at approximately $348,000. Daiwa Securities Group Inc. bought a new stake in Elanco Animal Health in the third quarter valued at approximately $425,000. FNY Investment Advisers LLC bought a new stake in Elanco Animal Health in the third quarter valued at approximately $456,000. Finally, Picton Mahoney Asset Management bought a new stake in Elanco Animal Health in the third quarter valued at approximately $698,000.

About Elanco Animal Health

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Analyst Recommendations for Elanco Animal Health (NASDAQ:ELAN)

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