Arizona State Retirement System Sells 1,661 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Arizona State Retirement System lowered its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 141,801 shares of the company’s stock after selling 1,661 shares during the period. Arizona State Retirement System’s holdings in Elanco Animal Health were worth $1,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ELAN. Allworth Financial LP grew its holdings in Elanco Animal Health by 791.7% during the 1st quarter. Allworth Financial LP now owns 2,354 shares of the company’s stock worth $25,000 after acquiring an additional 2,090 shares during the last quarter. CoreCap Advisors LLC bought a new stake in Elanco Animal Health during the 4th quarter worth about $29,000. NBC Securities Inc. bought a new stake in Elanco Animal Health during the 1st quarter worth about $40,000. Parallel Advisors LLC grew its holdings in Elanco Animal Health by 92.2% during the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company’s stock worth $41,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Elanco Animal Health by 65.9% during the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company’s stock worth $46,000 after acquiring an additional 1,740 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

ELAN has been the topic of several recent research reports. William Blair raised shares of Elanco Animal Health from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 26th. Wall Street Zen raised shares of Elanco Animal Health from a “hold” rating to a “buy” rating in a research note on Saturday, July 5th. Leerink Partnrs raised shares of Elanco Animal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Stifel Nicolaus raised their target price on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Leerink Partners raised shares of Elanco Animal Health from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Elanco Animal Health Stock Down 1.2%

Shares of NYSE ELAN opened at $14.78 on Friday. The firm has a market capitalization of $7.34 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.92 and a beta of 1.67. The firm’s 50-day moving average is $13.82 and its 200-day moving average is $11.79. The company has a current ratio of 2.71, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Elanco Animal Health Incorporated has a 1 year low of $8.02 and a 1 year high of $15.78.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a net margin of 8.43% and a return on equity of 7.54%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm earned $0.34 EPS. Elanco Animal Health’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts expect that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

About Elanco Animal Health

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.