Goldman Sachs Maintains Elanco Animal Health Sell Recommendation

Fintel reports that on August 8, 2023, Goldman Sachs maintained coverage of Elanco Animal Health (NYSE:ELAN) with a Sell recommendation.

Analyst Price Forecast Suggests 8.17% Upside

As of August 2, 2023, the average one-year price target for Elanco Animal Health is 13.48. The forecasts range from a low of 8.58 to a high of $19.95. The average price target represents an increase of 8.17% from its latest reported closing price of 12.46.

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The projected annual revenue for Elanco Animal Health is 4,498MM, an increase of 4.02%. The projected annual non-GAAP EPS is 1.07.

What is the Fund Sentiment?

There are 762 funds or institutions reporting positions in Elanco Animal Health. This is a decrease of 33 owner(s) or 4.15% in the last quarter. Average portfolio weight of all funds dedicated to ELAN is 0.15%, a decrease of 20.38%. Total shares owned by institutions decreased in the last three months by 3.72% to 588,895K shares. The put/call ratio of ELAN is 0.48, indicating a bullish outlook.

What are Other Shareholders Doing?

Dodge & Cox holds 84,774K shares representing 17.21% ownership of the company. In it’s prior filing, the firm reported owning 84,775K shares, representing a decrease of 0.00%. The firm decreased its portfolio allocation in ELAN by 23.57% over the last quarter.

DODGX – Dodge & Cox Stock Fund holds 54,903K shares representing 11.15% ownership of the company. No change in the last quarter.

Primecap Management holds 43,801K shares representing 8.89% ownership of the company. In it’s prior filing, the firm reported owning 32,984K shares, representing an increase of 24.70%. The firm decreased its portfolio allocation in ELAN by 2.71% over the last quarter.

Shapiro Capital Management holds 20,204K shares representing 4.10% ownership of the company. In it’s prior filing, the firm reported owning 13,522K shares, representing an increase of 33.07%. The firm increased its portfolio allocation in ELAN by 9.90% over the last quarter.

Price T Rowe Associates holds 17,322K shares representing 3.52% ownership of the company. In it’s prior filing, the firm reported owning 18,652K shares, representing a decrease of 7.68%. The firm decreased its portfolio allocation in ELAN by 70.53% over the last quarter.

Elanco Animal Health Background Information
(This description is provided by the company.)

Elanco Animal Health Incorporated is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders, and society as a whole. With nearly 70 years of animal health heritage, it is committed to helping its customers improve the health of animals in their care, while also making a meaningful impact on its local and global communities. It is driven by its vision of Food and Companionship Enriching Life and our Elanco Healthy Purpose™ Sustainability/ESG Pledges – all to advance the health of animals, people and the planet.

This article originally appeared on Fintel