New York State Common Retirement Fund Decreases Position in Elanco Animal Health Incorporated (NYSE:ELAN)

New York State Common Retirement Fund decreased its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,856 shares of the company’s stock after selling 15,600 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Elanco Animal Health worth $3,341,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. AM Squared Ltd bought a new stake in shares of Elanco Animal Health during the 3rd quarter valued at about $34,000. Wilmington Savings Fund Society FSB bought a new position in shares of Elanco Animal Health in the third quarter worth approximately $35,000. Farther Finance Advisors LLC raised its holdings in shares of Elanco Animal Health by 158.7% during the third quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock valued at $49,000 after purchasing an additional 2,044 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Elanco Animal Health by 89.9% during the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock valued at $50,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Elanco Animal Health by 2,129.2% during the third quarter. Blue Trust Inc. now owns 3,968 shares of the company’s stock valued at $57,000 after purchasing an additional 3,790 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $11.19 on Friday. 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 firm has a fifty day moving average price of $11.71 and a 200 day moving average price of $13.03. Elanco Animal Health Incorporated has a fifty-two week low of $10.20 and a fifty-two week high of $18.80. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 2.50 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last issued its earnings results on Tuesday, February 25th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 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 $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.08 EPS. Elanco Animal Health’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ELAN. Morgan Stanley reduced their target price on shares of Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Barclays reduced their price objective on shares of Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.83.

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.