Charles Schwab Investment Management Inc. Decreases Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,524,616 shares of the company’s stock after selling 160,443 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.92% of Elanco Animal Health worth $66,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Commerce Bank grew its stake in shares of Elanco Animal Health by 2.2% during the third quarter. Commerce Bank now owns 35,114 shares of the company’s stock worth $516,000 after acquiring an additional 741 shares during the last quarter. 180 Wealth Advisors LLC grew its position in Elanco Animal Health by 3.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company’s stock worth $352,000 after purchasing an additional 893 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Elanco Animal Health by 9.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company’s stock valued at $186,000 after purchasing an additional 1,107 shares in the last quarter. Atomi Financial Group Inc. increased its stake in Elanco Animal Health by 11.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company’s stock valued at $177,000 after purchasing an additional 1,221 shares in the last quarter. Finally, Keene & Associates Inc. raised its holdings in shares of Elanco Animal Health by 5.7% in the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock worth $337,000 after buying an additional 1,240 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Elanco Animal Health Price Performance

Shares of ELAN opened at $13.13 on Friday. The stock’s 50-day moving average price is $13.63 and its 200-day moving average price is $14.68. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 1.40 and a beta of 1.41. Elanco Animal Health Incorporated has a 52 week low of $11.40 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping 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 business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $0.18 EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ELAN shares. Morgan Stanley downgraded Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Elanco Animal Health has a consensus rating of “Hold” and a consensus target price of $17.14.

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.