Elanco Animal Health Incorporated (NYSE:ELAN) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 76.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,057,656 shares of the company’s stock after purchasing an additional 4,361,799 shares during the period. JPMorgan Chase & Co. owned about 2.03% of Elanco Animal Health worth $147,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in Elanco Animal Health in the second quarter valued at $55,599,000. Magnetar Financial LLC grew its stake in 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 buying an additional 3,164,350 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Elanco Animal Health during the third quarter worth approximately $19,708,000. Assenagon Asset Management S.A. lifted its stake in Elanco Animal Health by 363.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after buying an additional 1,214,123 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Elanco Animal Health in the second quarter valued at approximately $16,043,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

ELAN has been the subject of several research reports. Leerink Partners started coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price target for the company. UBS Group initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Elanco Animal Health has a consensus rating of “Hold” and an average price target of $16.71.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $12.11 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. Elanco Animal Health Incorporated has a one year low of $11.40 and a one year high of $18.80. The company has a market cap of $5.99 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The business has a fifty day moving average of $12.79 and a two-hundred day moving average of $13.82.

Elanco Animal Health (NYSE:ELAN) last announced 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. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company earned $0.18 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current fiscal 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.