JPMorgan Chase & Co. Issues Positive Forecast for Elanco Animal Health (NYSE:ELAN) Stock Price

Elanco Animal Health (NYSE:ELAN) had its target price increased by JPMorgan Chase & Co. from $24.00 to $28.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently commented on ELAN. Piper Sandler upgraded Elanco Animal Health from a “neutral” rating to an “overweight” rating and increased their price target for the company from $24.00 to $30.00 in a report on Thursday, January 22nd. Zacks Research lowered shares of Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Elanco Animal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Elanco Animal Health in a research note on Monday, December 29th. Finally, Argus upgraded Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Elanco Animal Health has a consensus rating of “Moderate Buy” and an average target price of $25.89.

Elanco Animal Health Stock Down 0.9%

NYSE:ELAN traded down $0.22 during trading hours on Thursday, reaching $24.98. The company’s stock had a trading volume of 264,809 shares, compared to its average volume of 4,469,844. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.40 and a quick ratio of 1.23. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 417.67, a price-to-earnings-growth ratio of 3.70 and a beta of 1.87. Elanco Animal Health has a one year low of $8.02 and a one year high of $26.08. The business’s 50-day moving average is $23.76 and its 200-day moving average is $21.32.

Insider Buying and Selling

In related news, CEO Jeffrey N. Simmons purchased 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average price of $21.75 per share, with a total value of $478,500.00. Following the purchase, the chief executive officer directly owned 167,000 shares in the company, valued at $3,632,250. This represents a 15.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert M. Vanhimbergen acquired 6,950 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were bought at an average price of $21.64 per share, with a total value of $150,398.00. Following the completion of the purchase, the chief financial officer directly owned 124,233 shares of the company’s stock, valued at approximately $2,688,402.12. This represents a 5.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 43,450 shares of company stock valued at $937,883 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Elanco Animal Health

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Elanco Animal Health in the 1st quarter worth approximately $2,065,000. Goldman Sachs Group Inc. boosted its stake in Elanco Animal Health by 104.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,787,394 shares of the company’s stock worth $50,268,000 after purchasing an additional 2,445,872 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Elanco Animal Health by 35.2% during the first quarter. Empowered Funds LLC now owns 15,835 shares of the company’s stock worth $166,000 after purchasing an additional 4,121 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Elanco Animal Health by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,793,337 shares of the company’s stock valued at $18,830,000 after buying an additional 76,408 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Elanco Animal Health in the second quarter valued at about $248,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Elanco Animal Health Company Profile

Elanco Animal Health Inc is a global leader in animal health dedicated to improving food and companion animal well-being. The company develops, manufactures and markets a range of products, including parasiticides, vaccines, antibiotics and feed additives designed to prevent and treat disease in livestock and pets. Elanco’s portfolio spans both food-producing animals—such as cattle, swine, poultry and aquaculture—and companion animals, with offerings that support parasite control, pain management and infectious disease prevention.

Originally founded as the animal health division of Eli Lilly and Company in the mid-20th century, Elanco was spun off into an independent publicly traded company in 2018.