New World Advisors LLC Buys 5,100 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

New World Advisors LLC grew its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 19.8% during the 4th quarter, HoldingsChannel reports. The firm owned 30,900 shares of the company’s stock after acquiring an additional 5,100 shares during the quarter. New World Advisors LLC’s holdings in Elanco Animal Health were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ELAN. JPMorgan Chase & Co. boosted its holdings in shares of Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after acquiring an additional 4,361,799 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Elanco Animal Health during the 3rd quarter worth $19,708,000. Private Management Group Inc. lifted its holdings in Elanco Animal Health by 63.4% during the 4th quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock worth $28,545,000 after buying an additional 914,808 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Elanco Animal Health during the 3rd quarter worth $9,969,000. Finally, Wellington Management Group LLP lifted its holdings in Elanco Animal Health by 19.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after buying an additional 646,522 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Elanco Animal Health Stock Performance

Shares of Elanco Animal Health stock opened at $11.02 on Monday. The firm has a fifty day moving average of $11.80 and a two-hundred day moving average of $13.10. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.50 and a beta of 1.42. Elanco Animal Health Incorporated has a 52 week low of $10.77 and a 52 week high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ELAN. UBS Group began coverage on Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. Stifel Nicolaus reduced their price objective on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday. Barclays upped their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, Leerink Partners initiated coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health presently has an average rating of “Hold” and an average price target of $16.00.

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.