Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Hedges Asset Management LLC

Hedges Asset Management LLC grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 15.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 110,500 shares of the company’s stock after acquiring an additional 15,000 shares during the quarter. Hedges Asset Management LLC’s holdings in Elanco Animal Health were worth $1,338,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after acquiring an additional 4,361,799 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Elanco Animal Health in the third quarter valued at about $19,708,000. Assenagon Asset Management S.A. increased its stake in shares of Elanco Animal Health by 363.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after purchasing an additional 1,214,123 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Elanco Animal Health during the 3rd quarter worth about $9,969,000. Finally, Wellington Management Group LLP lifted its stake in Elanco Animal Health by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after buying an additional 646,522 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Elanco Animal Health Trading Down 0.5 %

Shares of ELAN stock opened at $12.05 on Friday. Elanco Animal Health Incorporated has a twelve month low of $11.11 and a twelve month high of $18.80. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.56 and a beta of 1.41. The company’s 50-day moving average price is $12.35 and its 200-day moving average price is $13.30. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly 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 business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. As a group, equities analysts predict that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ELAN shares. Leerink Partners assumed coverage on Elanco Animal Health in a research note on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. UBS Group assumed coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price target for the company. Stifel Nicolaus decreased their price objective on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Barclays upped their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.43.

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.