Verition Fund Management LLC Sells 19,820 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Verition Fund Management LLC decreased its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 58.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,173 shares of the company’s stock after selling 19,820 shares during the quarter. Verition Fund Management LLC’s holdings in Elanco Animal Health were worth $208,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Davidson Kempner Capital Management LP bought a new stake in shares of Elanco Animal Health in the second quarter worth about $839,000. XTX Topco Ltd bought a new stake in Elanco Animal Health in the 2nd quarter worth approximately $935,000. Canada Pension Plan Investment Board purchased a new stake in shares of Elanco Animal Health during the 2nd quarter worth approximately $55,599,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Elanco Animal Health during the 3rd quarter valued at approximately $572,000. Finally, Algert Global LLC grew its holdings in shares of Elanco Animal Health by 22.6% in the second quarter. Algert Global LLC now owns 262,298 shares of the company’s stock valued at $3,785,000 after purchasing an additional 48,358 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of recent research reports. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. UBS Group initiated coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. Barclays lifted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Leerink Partners initiated coverage on Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.75.

Elanco Animal Health Price Performance

Elanco Animal Health stock opened at $12.10 on Monday. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The firm has a 50-day moving average of $13.22 and a two-hundred day moving average of $14.30. Elanco Animal Health Incorporated has a 1 year low of $11.40 and a 1 year high of $18.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, research analysts forecast that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current year.

Elanco Animal Health 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.