Versant Capital Management Inc Sells 1,241 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Versant Capital Management Inc reduced its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 32.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,642 shares of the company’s stock after selling 1,241 shares during the quarter. Versant Capital Management Inc’s holdings in Elanco Animal Health were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Elanco Animal Health by 76.6% during 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 in the last quarter. State Street Corp lifted its holdings in shares of Elanco Animal Health by 2.6% during 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. Magnetar Financial LLC boosted its position in shares of 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 acquiring an additional 3,164,350 shares in the last quarter. Geode Capital Management LLC increased its stake in Elanco Animal Health by 0.8% in the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock valued at $115,623,000 after acquiring an additional 65,303 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position 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 purchasing an additional 394,921 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ELAN shares. Barclays raised their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. UBS Group initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.43.

Elanco Animal Health Stock Down 0.9 %

NYSE:ELAN opened at $11.81 on Wednesday. Elanco Animal Health Incorporated has a one year low of $11.40 and a one 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. The company has a market cap of $5.84 billion, a PE ratio of 29.53, a P/E/G ratio of 2.03 and a beta of 1.41. The firm’s 50 day simple moving average is $12.73 and its 200 day simple moving average is $13.57.

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