Elanco Animal Health (NYSE:ELAN) Updates Q2 2022 Earnings Guidance

Elanco Animal Health (NYSE:ELAN – Get Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.22-$0.28 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $1.16 billion-$1.20 billion, compared to the consensus revenue estimate of $1.27 billion.Elanco Animal Health also updated its FY 2022 guidance to $1.15-$1.21 EPS.

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Elanco Animal Health from $30.00 to $32.00 and gave the company an equal weight rating in a research report on Monday, February 28th. The Goldman Sachs Group lowered their price target on shares of Elanco Animal Health from $37.00 to $32.00 and set a buy rating for the company in a research report on Thursday, May 19th. Zacks Investment Research cut shares of Elanco Animal Health from a hold rating to a sell rating in a research report on Tuesday, May 10th. Finally, Morgan Stanley lowered their price target on shares of Elanco Animal Health to $37.00 and set an overweight rating for the company in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elanco Animal Health has an average rating of Hold and a consensus price target of $34.60.

ELAN opened at $24.19 on Monday. The company has a current ratio of 2.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.80. The company has a market cap of $11.47 billion, a price-to-earnings ratio of -32.69, a PEG ratio of 1.18 and a beta of 0.74. The company’s 50 day moving average is $24.84 and its 200 day moving average is $26.54. Elanco Animal Health has a 12-month low of $20.51 and a 12-month high of $37.49.

Elanco Animal Health (NYSE:ELAN – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Elanco Animal Health had a negative net margin of 7.65% and a positive return on equity of 6.61%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Elanco Animal Health’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, analysts predict that Elanco Animal Health will post 1.17 EPS for the current fiscal year.

In related news, Director R David Hoover purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were purchased at an average cost of $23.33 per share, for a total transaction of $233,300.00. Following the completion of the acquisition, the director now owns 125,000 shares in the company, valued at approximately $2,916,250. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board acquired a new stake in shares of Elanco Animal Health during the 1st quarter worth approximately $83,259,000. BlackRock Inc. raised its holdings in shares of Elanco Animal Health by 6.6% during the 1st quarter. BlackRock Inc. now owns 26,217,917 shares of the company’s stock worth $684,027,000 after acquiring an additional 1,631,045 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Elanco Animal Health by 14.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,105,226 shares of the company’s stock worth $315,825,000 after acquiring an additional 1,541,163 shares during the period. Sculptor Capital LP increased its position in shares of Elanco Animal Health by 22.5% during the 1st quarter. Sculptor Capital LP now owns 5,838,554 shares of the company’s stock worth $152,328,000 after purchasing an additional 1,073,748 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Elanco Animal Health by 10,808.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 872,278 shares of the company’s stock valued at $22,814,000 after acquiring an additional 864,282 shares in the last quarter.

Elanco Animal Health Company Profile (Get Rating)

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.

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