Atom Investors LP Grows Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Atom Investors LP grew its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 310.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 345,855 shares of the company’s stock after purchasing an additional 261,559 shares during the quarter. Atom Investors LP’s holdings in Elanco Animal Health were worth $5,081,000 at the end of the most recent quarter.

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

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN opened at $13.21 on Monday. The company has a market cap of $6.53 billion, a P/E ratio of 33.03, a PEG ratio of 1.38 and a beta of 1.41. Elanco Animal Health Incorporated has a one year low of $11.40 and a one year high of $18.80. The business’s 50-day simple moving average is $13.57 and its 200 day simple moving average is $14.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Elanco Animal Health (NYSE:ELAN) last posted its 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 business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. On average, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Barclays lifted 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. Finally, Stifel Nicolaus restated a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.