Tidal Investments LLC Has $1.24 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Tidal Investments LLC raised its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 25.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,578 shares of the company’s stock after buying an additional 17,206 shares during the period. Tidal Investments LLC’s holdings in Elanco Animal Health were worth $1,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Commerce Bank boosted its holdings in Elanco Animal Health by 2.2% in the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock valued at $516,000 after acquiring an additional 741 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Elanco Animal Health by 9.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company’s stock valued at $186,000 after purchasing an additional 1,107 shares during the last quarter. Atomi Financial Group Inc. increased its position in shares of Elanco Animal Health by 11.1% during the second quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company’s stock worth $177,000 after buying an additional 1,221 shares during the period. Keene & Associates Inc. increased its position in shares of Elanco Animal Health by 5.7% during the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock worth $337,000 after buying an additional 1,240 shares during the period. Finally, Resonant Capital Advisors LLC raised its stake in Elanco Animal Health by 5.0% during the second quarter. Resonant Capital Advisors LLC now owns 27,325 shares of the company’s stock worth $394,000 after buying an additional 1,306 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ELAN. UBS Group started coverage on shares of Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price target on the stock. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Leerink Partners started coverage on Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target on the stock. Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.75.

Elanco Animal Health Price Performance

Shares of ELAN opened at $11.73 on Thursday. The stock has a market cap of $5.80 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.03 and a beta of 1.41. The business’s fifty day moving average is $13.07 and its 200 day moving average is $14.21. 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 12-month low of $11.40 and a 12-month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $0.18 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current fiscal year.

Elanco Animal Health Company 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.