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Is Elanco Animal Health Incorporated (NYSE: ELAN) Stock Worth Investing In for High Returns?

In the last trading session, 11.94 million Elanco Animal Health Incorporated (NYSE:ELAN) shares changed hands as the company’s beta touched 1.01. With the company’s per share price at $11.99 changed hands at $0.24 or 2.04% during last session, the market valuation stood at $5.79B. ELAN’s last price was a discount, traded about -31.11% off its 52-week high of $15.72. The share price had its 52-week low at $7.88, which suggests the last value was 34.28% up since then. When we look at Elanco Animal Health Incorporated’s average trading volume, we note the 10-day average is 5.25 million shares, with the 3-month average coming to 5.75 million.

Analysts gave the Elanco Animal Health Incorporated (ELAN) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 1 out of 10 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 5 recommended ELAN as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Elanco Animal Health Incorporated’s EPS for the current quarter is expected to be $0.12.

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Elanco Animal Health Incorporated (NYSE:ELAN) trade information

Instantly ELAN was in green as seen at the end of in last trading. With action 3.45%, the performance over the past five days has been green. The jump to weekly highs of 12.07 on Friday, 09/15/23 added 2.04% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.88%, with the 5-day performance at 3.45% in the green. However, in the 30-day time frame, Elanco Animal Health Incorporated (NYSE:ELAN) is 3.90% up. Looking at the short shares, we see there were 10.36 million shares sold at short interest cover period of 1.94 days.

The consensus price target for the stock as assigned by Wall Street analysts is $13.94, meaning bulls need an upside of 13.99% from its current market value. According to analyst projections, ELAN’s forecast low is $9.50 with $19.00 as the target high. To hit the forecast high, the stock’s price needs a -58.47% plunge from its current level, while the stock would need to tank 20.77% for it to hit the projected low.

Elanco Animal Health Incorporated (ELAN) estimates and forecasts

Data shows that the Elanco Animal Health Incorporated share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 24.38% over the past 6 months, a -23.42% in annual growth rate that is considerably lower than the industry average of 13.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Elanco Animal Health Incorporated will fall -40.00%, while the growth in revenue is estimated to hit -36.80% for the next quarter. Year-over-year growth is forecast to reach -0.90% down from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $1.04 billion. 8 analysts are of the opinion that Elanco Animal Health Incorporated’s revenue for the quarter ending Dec 2023 will be $1.02 billion. The company’s revenue for the corresponding quarters a year ago was $1.03 billion and $988 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.00%. The estimates for the next quarter sales put growth at 3.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 30.20%. The 2023 estimates are for Elanco Animal Health Incorporated earnings to increase by 83.90%, but the outlook for the next 5-year period is at -0.20% per year.

ELAN Dividends

Elanco Animal Health Incorporated is expected to release its next quarterly earnings report between November 06 and November 10.

Elanco Animal Health Incorporated (NYSE:ELAN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.53% of Elanco Animal Health Incorporated shares while 100.73% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 101.27%. There are 100.73% institutions holding the Elanco Animal Health Incorporated stock share, with Dodge & Cox Inc the top institutional holder. As of Jun 29, 2023, the company held 17.18% of the shares, roughly 84.62 million ELAN shares worth $1.01 billion.

Primecap Management Company holds the second largest percentage of outstanding shares, with 9.94% or 49.0 million shares worth $587.47 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Dodge & Cox Stock Fund and Vanguard/Primecap Fund. With 55.1 million shares estimated at $660.65 million under it, the former controlled 11.18% of total outstanding shares. On the other hand, Vanguard/Primecap Fund held about 3.54% of the shares, roughly 17.43 million shares worth around $208.97 million.

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