Zacks Investment Research downgraded shares of Elanco Animal Health (NASDAQ:ELAN) from a buy rating to a hold rating in a research note released on Tuesday, 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 research analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Elanco Animal Health from $32.00 to $35.00 and gave the company a market perform rating in a research report on Friday, May 10th. UBS Group began coverage on shares of Elanco Animal Health in a research report on Wednesday, March 20th. They set a sell rating and a $28.00 price target on the stock. Bank of America raised shares of Elanco Animal Health from a neutral rating to a buy rating and set a $30.95 price target on the stock in a research report on Monday, March 18th. Morgan Stanley began coverage on shares of Elanco Animal Health in a research report on Wednesday, March 13th. They set an equal weight rating and a $34.00 price target on the stock. Finally, William Blair began coverage on shares of Elanco Animal Health in a research report on Monday, February 11th. They set a market perform rating and a $29.71 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Elanco Animal Health presently has an average rating of Hold and an average price target of $33.47.

Shares of ELAN stock opened at $32.10 on Tuesday. Elanco Animal Health has a fifty-two week low of $28.00 and a fifty-two week high of $37.61.

Elanco Animal Health (NASDAQ:ELAN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $731.10 million for the quarter, compared to analyst estimates of $743.40 million. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share.

In other news, Director John P. Bilbrey bought 7,750 shares of Elanco Animal Health stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $32.39 per share, with a total value of $251,022.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director R David Hoover bought 20,000 shares of Elanco Animal Health stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average cost of $31.43 per share, for a total transaction of $628,600.00. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in Elanco Animal Health in the third quarter valued at $38,358,000. Legal & General Group Plc acquired a new stake in Elanco Animal Health in the third quarter valued at $839,000. Vanguard Group Inc. acquired a new stake in Elanco Animal Health in the third quarter valued at $176,182,000. State of Alaska Department of Revenue acquired a new stake in Elanco Animal Health in the fourth quarter valued at $261,000. Finally, First Hawaiian Bank acquired a new stake in Elanco Animal Health in the fourth quarter valued at $35,000.

About Elanco Animal Health

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