Goldman Sachs Group started coverage on shares of Elanco Animal Health (NYSE:ELAN) in a report published on Monday morning, The Fly reports. The firm issued a positive rating on the stock. The analysts noted that the move was a valuation call.

Several other research analysts have also recently weighed in on the stock. Guggenheim began coverage on shares of Elanco Animal Health in a research note on Wednesday, May 22nd. They set a neutral rating on the stock. UBS Group upgraded shares of Elanco Animal Health from a sell rating to a neutral rating and dropped their price target for the stock from $31.00 to $30.00 in a research note on Thursday, August 15th. Zacks Investment Research cut shares of Elanco Animal Health from a hold rating to a sell rating in a research note on Friday, September 6th. Finally, Bank of America cut shares of Elanco Animal Health from a buy rating to a neutral rating and set a $30.00 target price on the stock. in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $33.64.

Shares of Elanco Animal Health stock opened at $28.38 on Monday. The company’s fifty day simple moving average is $29.34 and its 200-day simple moving average is $31.56. The stock has a market capitalization of $9.87 billion and a PE ratio of 24.05. Elanco Animal Health has a 1-year low of $25.51 and a 1-year high of $37.61. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.07 and a quick ratio of 1.71.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $781.60 million for the quarter, compared to analysts’ expectations of $781.49 million. Elanco Animal Health had a net margin of 4.69% and a return on equity of 7.83%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Elanco Animal Health will post 1.08 EPS for the current year.

In related news, Director R David Hoover purchased 15,000 shares of Elanco Animal Health stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $26.96 per share, for a total transaction of $404,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey N. Simmons purchased 75,750 shares of Elanco Animal Health stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $26.55 per share, for a total transaction of $2,011,162.50. Following the completion of the acquisition, the chief executive officer now owns 470,006 shares in the company, valued at approximately $12,478,659.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 111,780 shares of company stock worth $2,975,212. 0.04% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ELAN. Water Island Capital LLC bought a new stake in Elanco Animal Health in the 1st quarter valued at $27,000. Steward Partners Investment Advisory LLC bought a new stake in Elanco Animal Health in the 2nd quarter valued at $32,000. Capital Investment Advisory Services LLC increased its holdings in Elanco Animal Health by 1,501.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 1,121 shares of the company’s stock valued at $36,000 after acquiring an additional 1,051 shares during the last quarter. Citizens Financial Group Inc RI bought a new stake in Elanco Animal Health in the 1st quarter valued at $48,000. Finally, Barrett Asset Management LLC bought a new stake in Elanco Animal Health in the 1st quarter valued at $48,000.

About Elanco Animal Health

Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.

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Analyst Recommendations for Elanco Animal Health (NYSE:ELAN)

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