Voloridge Investment Management LLC acquired a new position in Elanco Animal Health Incorporated (NYSE:ELAN) during the 3rd quarter, HoldingsChannel reports. The fund acquired 134,974 shares of the company’s stock, valued at approximately $3,770,000.
A number of other hedge funds also recently made changes to their positions in ELAN. Braun Bostich & Associates Inc. bought a new stake in Elanco Animal Health in the third quarter worth about $25,000. Freestone Capital Holdings LLC bought a new stake in Elanco Animal Health in the third quarter worth about $29,000. Bedel Financial Consulting Inc. raised its position in Elanco Animal Health by 159.4% in the third quarter. Bedel Financial Consulting Inc. now owns 1,432 shares of the company’s stock worth $40,000 after acquiring an additional 880 shares during the period. Acadian Asset Management LLC bought a new stake in Elanco Animal Health in the third quarter worth about $41,000. Finally, Institutional & Family Asset Management LLC raised its position in Elanco Animal Health by 42.9% in the third quarter. Institutional & Family Asset Management LLC now owns 1,500 shares of the company’s stock worth $42,000 after acquiring an additional 450 shares during the period. 75.86% of the stock is currently owned by institutional investors and hedge funds.
Elanco Animal Health stock opened at $30.82 on Wednesday. The firm’s 50 day simple moving average is $30.31 and its 200 day simple moving average is $26.75. The company has a current ratio of 1.75, a quick ratio of 0.90 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $14.54 billion, a PE ratio of -54.07, a price-to-earnings-growth ratio of 5.21 and a beta of 0.86. Elanco Animal Health Incorporated has a 1-year low of $15.17 and a 1-year high of $34.09.
Elanco Animal Health (NYSE:ELAN) last posted its earnings results on Friday, November 6th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The business had revenue of $889.60 million for the quarter, compared to analyst estimates of $922.48 million. Elanco Animal Health had a negative net margin of 8.45% and a positive return on equity of 3.43%. Elanco Animal Health’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. Research analysts forecast that Elanco Animal Health Incorporated will post 0.47 earnings per share for the current year.
In other Elanco Animal Health news, major shareholder Aktiengesellschaft Bayer sold 54,500,000 shares of the business’s stock in a transaction that occurred on Thursday, December 3rd. The shares were sold at an average price of $29.84, for a total value of $1,626,280,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is owned by insiders.
Several analysts have commented on ELAN shares. Raymond James reaffirmed a “hold” rating on shares of Elanco Animal Health in a research report on Wednesday, October 7th. Zacks Investment Research lowered shares of Elanco Animal Health from a “hold” rating to a “sell” rating in a research report on Tuesday, October 20th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Elanco Animal Health from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 17th. Argus lowered shares of Elanco Animal Health from a “buy” rating to a “hold” rating in a research report on Wednesday, December 9th. Finally, TheStreet lowered shares of Elanco Animal Health from a “c” rating to a “d” rating in a research report on Friday, November 6th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.28.
Elanco Animal Health Profile
Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for companion and food animals. It offers companion animal disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as functional 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.
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