Elanco Animal Health Inc (ELAN): A Great Stock For Handling Current Market Conditions?

Currently, there are 492.85M common shares owned by the public and among those 488.07M shares have been available to trade.

The company’s stock has a 5-day price change of -2.87% and -22.24% over the past three months. ELAN shares are trading -6.85% year to date (YTD), with the 12-month market performance up to 23.38% higher. It has a 12-month low price of $8.52 and touched a high of $18.80 over the same period. ELAN has an average intraday trading volume of 5.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.22%, -0.39%, and -8.00% respectively.

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Institutional ownership of Elanco Animal Health Inc (NYSE: ELAN) shares accounts for 97.79% of the company’s 492.85M shares outstanding.

It has a market capitalization of $6.86B and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$2.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.73% over the week and 4.11% over the month.

Earnings per share for the fiscal year are expected to increase by 2.98%, and 9.97% over the next financial year.

Looking at the support for the ELAN, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on September 19, 2024, with the firm’s price target at $17-$15. Stifel coverage for the Elanco Animal Health Inc (ELAN) stock in a research note released on January 05, 2024 offered a Buy rating with a price target of $20. Jefferies was of a view on December 19, 2023 that the stock is Buy, while Morgan Stanley gave the stock Overweight rating on December 15, 2023, issuing a price target of $16. Exane BNP Paribas on their part issued Outperform rating on December 07, 2023.

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