Polar Asset Management Partners Inc. Raises Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Polar Asset Management Partners Inc. raised its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 312.6% in the third quarter, Holdings Channel reports. The fund owned 554,100 shares of the company’s stock after buying an additional 419,800 shares during the period. Polar Asset Management Partners Inc.’s holdings in Elanco Animal Health were worth $8,140,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ELAN. Parkman Healthcare Partners LLC lifted its position in shares of Elanco Animal Health by 1.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company’s stock worth $1,878,000 after buying an additional 1,770 shares during the last quarter. Ionic Capital Management LLC acquired a new position in Elanco Animal Health in the 3rd quarter valued at $2,330,000. HighTower Advisors LLC increased its stake in Elanco Animal Health by 34.0% in the 3rd quarter. HighTower Advisors LLC now owns 16,119 shares of the company’s stock valued at $237,000 after buying an additional 4,093 shares during the period. Clearline Capital LP grew its stake in shares of Elanco Animal Health by 39.9% during the 3rd quarter. Clearline Capital LP now owns 51,933 shares of the company’s stock worth $763,000 after purchasing an additional 14,800 shares during the period. Finally, Atom Investors LP grew its stake in shares of Elanco Animal Health by 310.3% during the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after purchasing an additional 261,559 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

ELAN has been the topic of a number of recent research reports. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a report on Monday. Barclays upped their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. Leerink Partners assumed coverage on shares of Elanco Animal Health in a research report on Monday. They set a “market perform” rating and a $14.00 target price for the company. Finally, Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.75.

Elanco Animal Health Stock Down 7.4 %

Shares of NYSE:ELAN opened at $12.48 on Wednesday. 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 52-week low of $11.40 and a 52-week high of $18.80. The company has a 50 day moving average of $13.52 and a two-hundred day moving average of $14.55. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. As a group, analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal 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.