LMR Partners LLP Reduces Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

LMR Partners LLP lowered its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 49.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,529 shares of the company’s stock after selling 327,805 shares during the quarter. LMR Partners LLP’s holdings in Elanco Animal Health were worth $4,914,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ELAN. Benjamin F. Edwards & Company Inc. raised its position in shares of Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after acquiring an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Elanco Animal Health in the third quarter valued at about $29,000. ORG Partners LLC acquired a new stake in Elanco Animal Health during the second quarter worth about $31,000. nVerses Capital LLC acquired a new stake in Elanco Animal Health during the second quarter worth about $32,000. Finally, AM Squared Ltd acquired a new stake in Elanco Animal Health during the third quarter worth about $34,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

ELAN has been the topic of several research analyst reports. Barclays raised their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Elanco Animal Health currently has a consensus rating of “Hold” and an average target price of $17.14.

Elanco Animal Health Trading Down 3.8 %

Shares of Elanco Animal Health stock opened at $13.45 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The firm has a market cap of $6.65 billion, a PE ratio of 33.63, a P/E/G ratio of 1.46 and a beta of 1.41. The business’s fifty day moving average is $13.79 and its two-hundred day moving average is $14.77. Elanco Animal Health Incorporated has a fifty-two week low of $11.40 and a fifty-two week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. Analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In other Elanco Animal Health news, Director Michael J. Harrington bought 3,500 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $14.85 per share, with a total value of $51,975.00. Following the completion of the acquisition, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. The trade was a 4.51 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

Elanco Animal Health Profile

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.