Jennison Associates LLC Buys 15,246 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Jennison Associates LLC boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 1.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,095,710 shares of the company’s stock after acquiring an additional 15,246 shares during the quarter. Jennison Associates LLC’s holdings in Elanco Animal Health were worth $13,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased 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 purchasing an additional 4,361,799 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Elanco Animal Health in the 3rd quarter worth $19,708,000. Assenagon Asset Management S.A. raised its holdings in Elanco Animal Health by 363.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock valued at $22,748,000 after acquiring an additional 1,214,123 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Elanco Animal Health in the third quarter valued at about $9,969,000. Finally, Wellington Management Group LLP lifted 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 acquiring an additional 646,522 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELAN. UBS Group initiated coverage on Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Stifel Nicolaus reduced their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays upped their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, Leerink Partners assumed coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. One equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.29.

Elanco Animal Health Price Performance

ELAN stock opened at $12.03 on Thursday. Elanco Animal Health Incorporated has a 52 week low of $11.11 and a 52 week high of $18.80. The firm has a market capitalization of $5.94 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.71 and a beta of 1.42. The company has a fifty day simple moving average of $12.10 and a two-hundred day simple moving average of $13.22. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 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 analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Elanco Animal Health 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.