Assenagon Asset Management S.A. Has $2.16 Million Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Assenagon Asset Management S.A. cut its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 88.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,673 shares of the company’s stock after selling 1,369,833 shares during the period. 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.

Several other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Elanco Animal Health by 76.6% in the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after buying an additional 4,361,799 shares during the last quarter. State Street Corp raised its holdings in Elanco Animal Health by 2.6% in the 3rd quarter. State Street Corp now owns 9,912,693 shares of the company’s stock worth $145,617,000 after acquiring an additional 255,084 shares during the period. Geode Capital Management LLC lifted its position in Elanco Animal Health by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after acquiring an additional 65,303 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in 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 valued at $93,803,000 after acquiring an additional 394,921 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Elanco Animal Health by 19.2% in the third 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 during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ELAN. Stifel Nicolaus cut their price objective on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Leerink Partners started coverage on Elanco Animal Health in a research report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. UBS Group started coverage on shares of Elanco Animal Health in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Barclays upped their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.43.

Elanco Animal Health Stock Performance

Shares of NYSE ELAN opened at $12.10 on Thursday. The firm has a market capitalization 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 one year low of $11.11 and a one year high of $18.80. The business has a fifty day simple moving average of $12.39 and a 200 day simple moving average of $13.31. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data 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. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.92 EPS for the current 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.