Elanco Animal Health Incorporated [ELAN] stock Initiated by Morgan Stanley analyst, price target now $40

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Elanco Animal Health Incorporated [NYSE: ELAN] traded at a low on 05/09/22, posting a -8.20 loss after which it closed the day’ session at $21.84. The company report on May 9, 2022 that Elanco Animal Health Reports First Quarter 2022 Results.

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First Quarter 2022 Financial Results.

The results of the trading session contributed to over 9465524 shares changing hands. Over the past one week, the price volatility of Elanco Animal Health Incorporated stands at 4.78% while the volatility over the past one month is 3.32%.

The market cap for ELAN stock reached $10.51 billion, with 487.50 million shares outstanding and 453.89 million shares in the current float. Compared to the average trading volume of 4.70M shares, ELAN reached a trading volume of 9465524 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Elanco Animal Health Incorporated [ELAN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELAN shares is $33.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELAN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Elanco Animal Health Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 18, 2021. While these analysts kept the previous recommendation, Stifel dropped their target price from $37 to $34. The new note on the price target was released on October 28, 2021, representing the official price target for Elanco Animal Health Incorporated stock. Previously, the target price had yet another raise to $38, while Credit Suisse analysts kept a Outperform rating on ELAN stock.

The Average True Range (ATR) for Elanco Animal Health Incorporated is set at 0.86, with the Price to Sales ratio for ELAN stock in the period of the last 12 months amounting to 2.21. The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 1.33. Price to Free Cash Flow for ELAN in the course of the last twelve months was 29.44 with Quick ratio for the last quarter at 1.20.

How has ELAN stock performed recently?

Elanco Animal Health Incorporated [ELAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.16. With this latest performance, ELAN shares dropped by -17.74% in over the last four-week period, additionally sinking by -35.93% over the last 6 months – not to mention a drop of -32.26% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELAN stock in for the last two-week period is set at 21.05, with the RSI for the last a single of trading hit 13.04, and the three-weeks RSI is set at 27.58 for Elanco Animal Health Incorporated [ELAN]. The present Moving Average for the last 50 days of trading for this stock 26.25, while it was recorded at 24.02 for the last single week of trading, and 29.48 for the last 200 days.

Elanco Animal Health Incorporated [ELAN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Elanco Animal Health Incorporated [ELAN] shares currently have an operating margin of +6.34 and a Gross Margin at +43.55. Elanco Animal Health Incorporated’s Net Margin is presently recorded at -9.91.

Return on Equity for this stock declined to -5.89, with Return on Assets sitting at -2.76.

Elanco Animal Health Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.00.

Earnings analysis for Elanco Animal Health Incorporated [ELAN]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ELAN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Elanco Animal Health Incorporated go to 13.00%.

Insider trade positions for Elanco Animal Health Incorporated [ELAN]

There are presently around $10,349 million, in the hands of institutional investors. The top three institutional holders of ELAN stocks are: VANGUARD GROUP INC with ownership of 40,801,815, which is approximately -0.143% of the company’s market cap and around 0.40% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 34,465,054 shares of the stock with an approximate value of $752.72 million in ELAN stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $658.67 million in ELAN stock with ownership of nearly -1.931% of the company’s market capitalization.

Positions in Elanco Animal Health Incorporated stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 245 institutional holders increased their position in Elanco Animal Health Incorporated [NYSE:ELAN] by around 44,963,859 shares. Additionally, 202 investors decreased positions by around 43,818,688 shares, while 84 investors held positions by with 385,091,188 shares. The mentioned changes placed institutional holdings at 473,873,735 shares, according to the latest SEC report filing. ELAN stock had 67 new institutional investments in for a total of 5,914,461 shares, while 53 institutional investors sold positions of 3,959,446 shares during the same period.