William Blair Comments on Elanco Animal Health Incorporated’s Q3 2023 Earnings (NYSE:ELAN)

Posted by Defense World Staff on Aug 10th, 2023

Elanco Animal Health Incorporated (NYSE:ELAN – Free Report) – Stock analysts at William Blair decreased their Q3 2023 earnings per share (EPS) estimates for shares of Elanco Animal Health in a note issued to investors on Monday, August 7th. William Blair analyst B. Vazquez now forecasts that the company will earn $0.11 per share for the quarter, down from their previous forecast of $0.15. The consensus estimate for Elanco Animal Health’s current full-year earnings is $0.82 per share. William Blair also issued estimates for Elanco Animal Health’s Q4 2023 earnings at $0.11 EPS and FY2023 earnings at $0.85 EPS.

Elanco Animal Health (NYSE:ELAN – Get Free Report) last posted its earnings results on Monday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. Elanco Animal Health had a positive return on equity of 6.99% and a negative net margin of 2.24%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $0.36 EPS. Elanco Animal Health’s revenue was down 10.2% on a year-over-year basis.

A number of other equities research analysts have also issued reports on the company. Barclays raised Elanco Animal Health from an “equal weight” rating to an “overweight” rating and set a $14.00 price target on the stock in a research report on Thursday, April 20th. The Goldman Sachs Group raised their price objective on Elanco Animal Health from $8.50 to $9.50 and gave the stock a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health currently has a consensus rating of “Hold” and a consensus price target of $14.90.

Check Out Our Latest Research Report on Elanco Animal Health

Elanco Animal Health Price Performance

ELAN stock opened at $12.27 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.25 and a quick ratio of 1.24. The firm has a market capitalization of $6.04 billion, a P/E ratio of -61.35, a P/E/G ratio of 8.33 and a beta of 1.01. The business’s 50-day moving average is $10.56 and its two-hundred day moving average is $10.47. Elanco Animal Health has a 1 year low of $7.88 and a 1 year high of $20.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ELAN. KB Financial Partners LLC raised its stake in shares of Elanco Animal Health by 8.2% during the 1st quarter. KB Financial Partners LLC now owns 8,709 shares of the company’s stock worth $227,000 after buying an additional 658 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Elanco Animal Health by 1.8% in the third quarter. Baird Financial Group Inc. now owns 47,406 shares of the company’s stock valued at $589,000 after acquiring an additional 843 shares during the period. Raymond James & Associates lifted its holdings in Elanco Animal Health by 1.3% in the fourth quarter. Raymond James & Associates now owns 70,130 shares of the company’s stock valued at $857,000 after acquiring an additional 895 shares during the period. Captrust Financial Advisors lifted its holdings in Elanco Animal Health by 57.0% in the first quarter. Captrust Financial Advisors now owns 2,690 shares of the company’s stock valued at $70,000 after acquiring an additional 977 shares during the period. Finally, Resonant Capital Advisors LLC lifted its holdings in Elanco Animal Health by 5.2% in the second quarter. Resonant Capital Advisors LLC now owns 20,784 shares of the company’s stock valued at $209,000 after acquiring an additional 1,028 shares during the period. 94.81% of the stock is currently owned by institutional investors and hedge funds.

About Elanco Animal Health

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Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.