Elanco Animal Health (NYSE:ELAN) Hits New 52-Week High – Time to Buy?

Elanco Animal Health Incorporated (NYSE:ELAN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.67 and last traded at $25.66, with a volume of 3139785 shares. The stock had previously closed at $24.83.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ELAN shares. Argus raised shares of Elanco Animal Health from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, November 19th. Barclays began coverage on Elanco Animal Health in a research report on Tuesday, December 9th. They issued an “overweight” rating and a $30.00 price target for the company. Morgan Stanley upped their price target on Elanco Animal Health from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 18th. UBS Group raised their price objective on Elanco Animal Health from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Zacks Research cut Elanco Animal Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.44.

Elanco Animal Health Price Performance

The company has a current ratio of 2.40, a quick ratio of 1.23 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $23.39 and a 200-day simple moving average of $20.94. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 413.54, a price-to-earnings-growth ratio of 3.84 and a beta of 1.87.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Lawrence Erik Kurzius purchased 10,000 shares of the stock in a transaction on Friday, December 12th. The shares were purchased at an average price of $21.30 per share, with a total value of $213,000.00. Following the acquisition, the director directly owned 131,773 shares of the company’s stock, valued at $2,806,764.90. This represents a 8.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert M. Vanhimbergen purchased 6,950 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was acquired at an average cost of $21.64 per share, with a total value of $150,398.00. Following the transaction, the chief financial officer directly owned 124,233 shares of the company’s stock, valued at approximately $2,688,402.12. This represents a 5.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 43,450 shares of company stock worth $937,883 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Elanco Animal Health

A number of hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. boosted its stake in Elanco Animal Health by 2,563.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,385 shares of the company’s stock valued at $28,000 after buying an additional 1,333 shares in the last quarter. Root Financial Partners LLC raised its stake in Elanco Animal Health by 50.7% during the fourth quarter. Root Financial Partners LLC now owns 1,759 shares of the company’s stock worth $40,000 after acquiring an additional 592 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Elanco Animal Health by 136.7% during the third quarter. Huntington National Bank now owns 1,882 shares of the company’s stock valued at $38,000 after acquiring an additional 1,087 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Elanco Animal Health by 80.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,021 shares of the company’s stock valued at $42,000 after purchasing an additional 900 shares in the last quarter. Finally, Torren Management LLC bought a new stake in shares of Elanco Animal Health in the 4th quarter worth about $46,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Elanco Animal Health Company Profile

Elanco Animal Health Inc is a global leader in animal health dedicated to improving food and companion animal well-being. The company develops, manufactures and markets a range of products, including parasiticides, vaccines, antibiotics and feed additives designed to prevent and treat disease in livestock and pets. Elanco’s portfolio spans both food-producing animals—such as cattle, swine, poultry and aquaculture—and companion animals, with offerings that support parasite control, pain management and infectious disease prevention.

Originally founded as the animal health division of Eli Lilly and Company in the mid-20th century, Elanco was spun off into an independent publicly traded company in 2018.