Tokio Marine Asset Management Co. Ltd. Lowers Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 11.9% in the 4th quarter, HoldingsChannel reports. The firm owned 26,000 shares of the company’s stock after selling 3,500 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Elanco Animal Health were worth $315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Elanco Animal Health by 0.8% in the 3rd 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 during the last quarter. Atom Investors LP raised its stake in shares of Elanco Animal Health by 310.3% during the third quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after acquiring an additional 261,559 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Elanco Animal Health by 24.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock worth $13,135,000 after acquiring an additional 209,734 shares during the last quarter. Wellington Management Group LLP boosted 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, Franklin Resources Inc. grew its holdings in shares of Elanco Animal Health by 14.0% during the 3rd quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock valued at $5,349,000 after purchasing an additional 45,795 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group assumed coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price target for the company. Leerink Partners began coverage on 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. Morgan Stanley reduced their price target on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Barclays boosted their price objective 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, Leerink Partnrs upgraded shares of 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 assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Elanco Animal Health has a consensus rating of “Hold” and a consensus target price of $16.29.

Elanco Animal Health Price Performance

ELAN opened at $12.03 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The stock has a market capitalization of $5.94 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 2.71 and a beta of 1.42. The stock’s 50 day moving average price is $12.10 and its 200-day moving average price is $13.22. Elanco Animal Health Incorporated has a 52-week low of $11.11 and a 52-week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 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.