Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 8.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,227 shares of the company’s stock after purchasing an additional 2,195 shares during the period. Orion Portfolio Solutions LLC’s holdings in Elanco Animal Health were worth $429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp grew its position in Elanco Animal Health by 2.6% during the third quarter. State Street Corp now owns 9,912,693 shares of the company’s stock valued at $145,617,000 after buying an additional 255,084 shares during the period. Magnetar Financial LLC boosted its stake in shares of Elanco Animal Health by 61.2% during the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after acquiring an additional 3,164,350 shares in the last quarter. The Manufacturers Life Insurance Company grew its position 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 valued at $93,803,000 after acquiring an additional 394,921 shares during the period. Wellington Management Group LLP increased its stake in shares of Elanco Animal Health by 19.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after purchasing an additional 646,522 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Elanco Animal Health in the 2nd quarter worth about $55,599,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of recent analyst reports. Leerink Partners assumed coverage on Elanco Animal Health in a research report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Barclays raised their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.75.

Elanco Animal Health Stock Down 4.7 %

Shares of ELAN opened at $11.73 on Thursday. Elanco Animal Health Incorporated has a 52-week low of $11.40 and a 52-week high of $18.80. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $13.07 and a two-hundred day simple moving average of $14.21. The company has a market capitalization of $5.80 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping 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 company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. Elanco Animal Health’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Elanco Animal Health Incorporated will post 0.92 EPS for the current 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.