Assenagon Asset Management S.A. Sells 1,369,833 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Assenagon Asset Management S.A. reduced its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 88.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 178,673 shares of the company’s stock after selling 1,369,833 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Elanco Animal Health were worth $2,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commerce Bank grew its holdings in shares of Elanco Animal Health by 2.2% in the 3rd quarter. Commerce Bank now owns 35,114 shares of the company’s stock worth $516,000 after purchasing an additional 741 shares during the last quarter. Keene & Associates Inc. boosted its position in Elanco Animal Health by 5.7% in the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock valued at $337,000 after buying an additional 1,240 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after buying an additional 1,361 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Elanco Animal Health by 5.9% during the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock worth $388,000 after buying an additional 1,464 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Elanco Animal Health by 89.9% in the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock valued at $50,000 after acquiring an additional 1,601 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELAN has been the topic of a number of research analyst reports. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus lowered their target price on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays lifted their price target on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. UBS Group began coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Leerink Partners assumed coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued 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 given a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health has an average rating of “Hold” and a consensus price target of $16.43.

Elanco Animal Health Price Performance

Shares of ELAN stock opened at $12.10 on Thursday. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.56 and a beta of 1.41. Elanco Animal Health Incorporated has a 12 month low of $11.11 and a 12 month 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 50-day moving average price of $12.39 and a 200 day moving average price of $13.31.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping 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 net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. Research analysts expect that Elanco Animal Health Incorporated will post 0.92 EPS for the current 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.