Douglas Lane & Associates LLC Trims Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Douglas Lane & Associates LLC decreased its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,689,949 shares of the company’s stock after selling 77,835 shares during the quarter. Douglas Lane & Associates LLC owned about 0.75% of Elanco Animal Health worth $44,685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ELAN. JPMorgan Chase & Co. raised its holdings in Elanco Animal Health by 76.6% during the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after purchasing an additional 4,361,799 shares in the last quarter. State Street Corp increased its holdings in shares of Elanco Animal Health by 2.6% during the 3rd quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after acquiring an additional 255,084 shares during the last quarter. Magnetar Financial LLC lifted its holdings in shares of Elanco Animal Health by 61.2% during the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after buying an additional 3,164,350 shares during the last quarter. Geode Capital Management LLC grew its position in Elanco Animal Health by 0.8% during the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after buying an additional 65,303 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock worth $93,803,000 after acquiring an additional 394,921 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

NYSE ELAN traded down $0.22 during trading on Wednesday, reaching $11.58. The company’s stock had a trading volume of 3,590,174 shares, compared to its average volume of 4,126,589. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The firm has a 50 day moving average price of $12.73 and a 200 day moving average price of $13.57. Elanco Animal Health Incorporated has a 12 month low of $11.28 and a 12 month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced 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. The business had revenue of $1.03 billion for 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 firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. As a group, equities analysts anticipate that Elanco Animal Health Incorporated will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ELAN has been the topic of a number of research analyst reports. Leerink Partners initiated coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target on the stock. UBS Group began coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Stifel Nicolaus cut their target price on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Finally, Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.43.

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.