Market Analysts see Elanco Animal Health Incorporated [ELAN] falling to $22. Time to buy?

Elanco Animal Health Incorporated [NYSE: ELAN] jumped around 0.13 points on Tuesday, while shares priced at $12.35 at the close of the session, up 1.06%. The company report on January 3, 2023 that Elanco to Participate in the 41st Annual J.P. Morgan Healthcare Conference.


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Elanco Animal Health Incorporated (NYSE: ELAN) will participate in the 41st Annual J.P. Morgan Healthcare Conference on Tuesday, January 10, 2023. Jeff Simmons, president and CEO, will represent the company and respond to questions from analysts at 12:45 p.m. ET.

A live audio webcast will be available in the “Events and Presentations” section of Elanco’s investor website. A replay will be available for approximately 30 days.

Elanco Animal Health Incorporated stock is now 1.06% up from its year-to-date (YTD) trading value. ELAN Stock saw the intraday high of $12.575 and lowest of $12.105 per share. The company’s 52-week high price is 29.66, which means current price is +2.02% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 6.99M shares, ELAN reached a trading volume of 8410838 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 $17.44 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 2.80. 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 Equal-Weight, with their previous recommendation back on August 18, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $28 to $24. The new note on the price target was released on August 16, 2022, representing the official price target for Elanco Animal Health Incorporated stock. Previously, the target price had yet another drop from $32 to $19, while Goldman kept a Sell rating on ELAN stock.

The Average True Range (ATR) for Elanco Animal Health Incorporated is set at 0.47, with the Price to Sales ratio for ELAN stock in the period of the last 12 months amounting to 1.28. The Price to Book ratio for the last quarter was 0.89, with the Price to Cash per share for the same quarter was set at 0.98. Price to Free Cash Flow for ELAN in the course of the last twelve months was 11.06 with Quick ratio for the last quarter at 1.10.

How has ELAN stock performed recently?

Elanco Animal Health Incorporated [ELAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.47. With this latest performance, ELAN shares dropped by -6.37% in over the last four-week period, additionally sinking by -40.19% over the last 6 months – not to mention a drop of -56.48% 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 51.49, with the RSI for the last a single of trading hit 56.04, and the three-weeks RSI is set at 49.20 for Elanco Animal Health Incorporated [ELAN]. The present Moving Average for the last 50 days of trading for this stock 12.54, while it was recorded at 11.97 for the last single week of trading, and 18.27 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 1.10 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 9.00%.

Insider trade positions for Elanco Animal Health Incorporated [ELAN]

There are presently around $5,629 million, or 99.10% of ELAN stock, in the hands of institutional investors. The top three institutional holders of ELAN stocks are: DODGE & COX with ownership of 53,001,340, which is approximately 7.713% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 42,676,437 shares of the stock with an approximate value of $527.05 million in ELAN stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $375.73 million in ELAN stock with ownership of nearly -0.419% of the company’s market capitalization.

Positions in Elanco Animal Health Incorporated stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 222 institutional holders increased their position in Elanco Animal Health Incorporated [NYSE:ELAN] by around 74,509,202 shares. Additionally, 220 investors decreased positions by around 83,697,745 shares, while 52 investors held positions by with 297,614,311 shares. The mentioned changes placed institutional holdings at 455,821,258 shares, according to the latest SEC report filing. ELAN stock had 63 new institutional investments in for a total of 13,633,571 shares, while 79 institutional investors sold positions of 13,589,410 shares during the same period.

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