Handelsbanken Fonder AB Purchases 14,800 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Handelsbanken Fonder AB grew its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 139,600 shares of the company’s stock after buying an additional 14,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Elanco Animal Health were worth $1,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of Elanco Animal Health by 6.3% during the fourth quarter. Private Advisor Group LLC now owns 148,763 shares of the company’s stock valued at $1,802,000 after purchasing an additional 8,848 shares during the period. Keene & Associates Inc. boosted its holdings in shares of Elanco Animal Health by 27.4% in the fourth quarter. Keene & Associates Inc. now owns 29,230 shares of the company’s stock valued at $354,000 after purchasing an additional 6,285 shares during the period. Bfsg LLC increased its holdings in Elanco Animal Health by 41.4% during the 4th quarter. Bfsg LLC now owns 24,554 shares of the company’s stock worth $297,000 after purchasing an additional 7,191 shares during the period. Truist Financial Corp raised its position in Elanco Animal Health by 173.1% during the 4th quarter. Truist Financial Corp now owns 190,284 shares of the company’s stock valued at $2,304,000 after purchasing an additional 120,596 shares in the last quarter. Finally, DDD Partners LLC bought a new position in shares of Elanco Animal Health during the 4th quarter worth $5,974,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ELAN shares. Morgan Stanley dropped their target price on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. UBS Group initiated coverage on Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Stifel Nicolaus dropped their price objective on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Leerink Partners assumed coverage on shares of Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price for the company. Finally, Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.00.

Elanco Animal Health Trading Down 3.6 %

Shares of ELAN opened at $10.71 on Wednesday. The firm has a market capitalization of $5.29 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.50 and a beta of 1.42. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $11.75 and a 200 day moving average price of $13.07. Elanco Animal Health Incorporated has a 12-month low of $10.20 and a 12-month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. Sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 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.