Pictet Asset Management Ltd. lowered its position in shares of Elanco Animal Health (NYSE:ELAN) by 57.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 412,986 shares of the company’s stock after selling 564,523 shares during the period. Pictet Asset Management Ltd. owned 0.11% of Elanco Animal Health worth $10,981,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc RI increased its stake in Elanco Animal Health by 26.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 1,875 shares of the company’s stock worth $63,000 after acquiring an additional 393 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Elanco Animal Health by 1.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,000 shares of the company’s stock worth $1,115,000 after acquiring an additional 500 shares during the period. Brown Advisory Inc. increased its stake in Elanco Animal Health by 6.4% during the 2nd quarter. Brown Advisory Inc. now owns 10,631 shares of the company’s stock worth $359,000 after acquiring an additional 643 shares during the period. San Francisco Sentry Investment Group CA increased its stake in Elanco Animal Health by 196.7% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,157 shares of the company’s stock worth $31,000 after acquiring an additional 767 shares during the period. Finally, First Mercantile Trust Co. increased its stake in Elanco Animal Health by 41.6% during the 2nd quarter. First Mercantile Trust Co. now owns 2,850 shares of the company’s stock worth $96,000 after acquiring an additional 837 shares during the period. Institutional investors own 98.43% of the company’s stock.
Shares of ELAN opened at $27.62 on Tuesday. Elanco Animal Health has a 52-week low of $25.25 and a 52-week high of $35.46. The business’s fifty day moving average is $26.87 and its 200-day moving average is $29.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 3.12. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 23.41 and a beta of 0.71.
Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Elanco Animal Health had a return on equity of 7.79% and a net margin of 3.04%. The company had revenue of $771.30 million for the quarter, compared to analyst estimates of $765.85 million. During the same quarter last year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts forecast that Elanco Animal Health will post 1.07 EPS for the current fiscal year.
In other news, major shareholder Dawei Li acquired 1,384,717 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $1.05 per share, with a total value of $1,453,952.85. Also, insider Todd S. Young acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $26.57 per share, for a total transaction of $265,700.00. Following the acquisition, the insider now owns 28,883 shares in the company, valued at $767,421.31. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,475,461 shares of company stock worth $3,864,853. Corporate insiders own 0.04% of the company’s stock.
A number of equities analysts have commented on ELAN shares. Zacks Investment Research lowered Elanco Animal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Morgan Stanley upgraded Elanco Animal Health from an “equal” rating to a “weight” rating and lowered their price objective for the stock from $34.00 to $32.00 in a research note on Thursday, November 7th. Goldman Sachs Group started coverage on Elanco Animal Health in a research note on Monday, September 9th. They issued a “positive” rating on the stock. They noted that the move was a valuation call. Bank of America lowered Elanco Animal Health from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research note on Monday, August 26th. Finally, UBS Group decreased their price target on Elanco Animal Health from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Elanco Animal Health has an average rating of “Hold” and a consensus price target of $33.19.
About Elanco Animal Health
Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.
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