Hedges Asset Management LLC Boosts Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Hedges Asset Management LLC raised its position in Elanco Animal Health Incorporated (NYSE:ELAN) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,500 shares of the company’s stock after acquiring an additional 15,000 shares during the period. Hedges Asset Management LLC’s holdings in Elanco Animal Health were worth $1,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ELAN. Benjamin F. Edwards & Company Inc. boosted its position in shares of Elanco Animal Health by 337.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Elanco Animal Health in the third quarter valued at about $29,000. AM Squared Ltd acquired a new stake in Elanco Animal Health in the third quarter worth about $34,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Elanco Animal Health during the third quarter worth about $35,000. Finally, Quarry LP acquired a new position in shares of Elanco Animal Health during the second quarter valued at about $40,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Performance

Shares of ELAN stock opened at $12.05 on Friday. Elanco Animal Health Incorporated has a 52-week low of $11.11 and a 52-week high of $18.80. 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 stock has a market cap of $5.95 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.56 and a beta of 1.41. The business has a 50-day simple moving average of $12.35 and a 200-day simple moving average of $13.30.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities analysts expect that Elanco Animal Health Incorporated will post 0.92 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on ELAN shares. UBS Group started coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 target price for the company. Stifel Nicolaus dropped 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 report on Tuesday, January 7th. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Barclays lifted their price target on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Leerink Partners assumed coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Elanco Animal Health currently has an average rating of “Hold” and an average price target of $16.43.

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.