Zacks Investment Research upgraded shares of Elanco Animal Health (NASDAQ:ELAN) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. The firm currently has $37.00 price target on the stock.

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. “

Several other brokerages have also commented on ELAN. William Blair initiated coverage on shares of Elanco Animal Health in a research note on Monday, February 11th. They issued a market perform rating and a $29.71 price target on the stock. UBS Group initiated coverage on shares of Elanco Animal Health in a research note on Wednesday, January 23rd. They issued a sell rating and a $29.00 price target on the stock. Morgan Stanley initiated coverage on shares of Elanco Animal Health in a research note on Wednesday, March 13th. They issued an equal weight rating and a $34.00 price target on the stock. Bank of America upgraded 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 note on Monday, March 18th. Finally, BMO Capital Markets increased 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 note on Friday, May 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.47.

Shares of Elanco Animal Health stock opened at $32.65 on Friday. Elanco Animal Health has a 52 week low of $28.00 and a 52 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $731.10 million during the quarter, compared to analysts’ expectations of $743.40 million. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share.

In other Elanco Animal Health news, Director R David Hoover bought 20,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were acquired 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 this hyperlink. Also, Director John P. Bilbrey bought 7,750 shares of the stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $32.39 per share, for a total transaction of $251,022.50. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB acquired a new stake in shares of Elanco Animal Health during the first quarter worth $1,793,000. Metropolitan Life Insurance Co NY lifted its holdings in shares of Elanco Animal Health by 350.7% during the first quarter. Metropolitan Life Insurance Co NY now owns 16,057 shares of the company’s stock worth $514,000 after purchasing an additional 12,494 shares during the period. Equitable Trust Co. acquired a new stake in shares of Elanco Animal Health during the first quarter worth $2,445,000. Kore Private Wealth LLC acquired a new stake in shares of Elanco Animal Health during the first quarter worth $95,000. Finally, Jane Street Group LLC lifted its holdings in shares of Elanco Animal Health by 4,662.0% during the first quarter. Jane Street Group LLC now owns 476,816 shares of the company’s stock worth $15,291,000 after purchasing an additional 466,803 shares during the period.

About Elanco Animal Health

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