Oppenheimer Asset Management Inc. Decreases Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Oppenheimer Asset Management Inc. trimmed its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,912 shares of the company’s stock after selling 6,281 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Elanco Animal Health were worth $326,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Kovack Advisors Inc. bought a new position in Elanco Animal Health during the 4th quarter valued at $170,000. Illinois Municipal Retirement Fund boosted its stake in Elanco Animal Health by 38.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 376,262 shares of the company’s stock valued at $4,557,000 after acquiring an additional 103,692 shares during the last quarter. Skylands Capital LLC boosted its stake in Elanco Animal Health by 36.2% during the 4th quarter. Skylands Capital LLC now owns 504,500 shares of the company’s stock valued at $6,109,000 after acquiring an additional 134,150 shares during the last quarter. Hardman Johnston Global Advisors LLC boosted its stake in Elanco Animal Health by 22.5% during the 4th quarter. Hardman Johnston Global Advisors LLC now owns 1,566,430 shares of the company’s stock valued at $18,969,000 after acquiring an additional 288,160 shares during the last quarter. Finally, New World Advisors LLC boosted its stake in Elanco Animal Health by 19.8% during the 4th quarter. New World Advisors LLC now owns 30,900 shares of the company’s stock valued at $374,000 after acquiring an additional 5,100 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ELAN shares. UBS Group reduced their price objective on shares of Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley reduced their price target on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.17.

Elanco Animal Health Stock Down 0.2 %

ELAN stock opened at $10.82 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a fifty-two week low of $10.20 and a fifty-two week high of $18.80. The firm’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $12.96. The stock has a market cap of $5.35 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.44.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.08 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

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.