Elanco Animal Health Incorporated (NYSE:ELAN) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,119 shares of the company’s stock after purchasing an additional 4,093 shares during the period. HighTower Advisors LLC’s holdings in Elanco Animal Health were worth $237,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Magnetar Financial LLC raised its holdings in shares of Elanco Animal Health by 61.2% during the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after acquiring an additional 3,164,350 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Elanco Animal Health by 6.6% during the third quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock worth $93,803,000 after purchasing an additional 394,921 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Elanco Animal Health in the 2nd quarter valued at $55,599,000. Douglas Lane & Associates LLC lifted its holdings in Elanco Animal Health by 1.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 3,767,784 shares of the company’s stock valued at $55,349,000 after purchasing an additional 37,349 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Elanco Animal Health by 1.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company’s stock valued at $42,445,000 after purchasing an additional 36,944 shares in the last quarter. 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 research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Leerink Partners began coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Barclays boosted 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. UBS Group initiated coverage on Elanco Animal Health in a research report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.71.

Elanco Animal Health Stock Up 0.2 %

Shares of NYSE ELAN opened at $11.88 on Wednesday. The company has a market capitalization of $5.87 billion, a P/E ratio of 29.70, a P/E/G ratio of 2.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The company has a 50 day simple moving average of $12.87 and a 200-day simple moving average of $14.00. Elanco Animal Health Incorporated has a 1 year low of $11.40 and a 1 year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (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 company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.92 earnings per share 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.