JPMorgan Chase & Co. cut its position in Elanco Animal Health Incorporated (NYSE:ELAN – Free Report) by 55.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,930,710 shares of the company’s stock after selling 6,143,203 shares during the quarter. JPMorgan Chase & Co. owned 1.00% of Elanco Animal Health worth $49,603,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Profund Advisors LLC raised its holdings in Elanco Animal Health by 10.3% in the second quarter. Profund Advisors LLC now owns 66,643 shares of the company’s stock valued at $670,000 after acquiring an additional 6,224 shares in the last quarter. AlphaCentric Advisors LLC raised its holdings in Elanco Animal Health by 109.8% in the first quarter. AlphaCentric Advisors LLC now owns 215,000 shares of the company’s stock valued at $2,021,000 after acquiring an additional 112,500 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in Elanco Animal Health by 25.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 24,420 shares of the company’s stock valued at $246,000 after acquiring an additional 4,948 shares in the last quarter. Ethic Inc. raised its holdings in Elanco Animal Health by 62.4% in the first quarter. Ethic Inc. now owns 73,820 shares of the company’s stock valued at $694,000 after acquiring an additional 28,356 shares in the last quarter. Finally, Perpetual Ltd raised its holdings in Elanco Animal Health by 32.5% in the second quarter. Perpetual Ltd now owns 1,001,938 shares of the company’s stock valued at $10,079,000 after acquiring an additional 245,938 shares in the last quarter. 95.29% of the stock is currently owned by hedge funds and other institutional investors.
Elanco Animal Health Stock Up 5.3 %
Shares of NYSE:ELAN opened at $12.40 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 2.82. Elanco Animal Health Incorporated has a 1-year low of $7.88 and a 1-year high of $14.69. The company’s fifty day moving average is $10.41 and its two-hundred day moving average is $10.67. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -5.34, a price-to-earnings-growth ratio of 7.26 and a beta of 1.14.
Elanco Animal Health (NYSE:ELAN – Get Free Report) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. Elanco Animal Health had a negative net margin of 26.18% and a positive return on equity of 6.99%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $0.20 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Elanco Animal Health Incorporated will post 0.92 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Elanco Animal Health from $8.50 to $9.50 and gave the company a “sell” rating in a report on Tuesday, August 8th. Morgan Stanley dropped their target price on shares of Elanco Animal Health from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 8th. Piper Sandler increased their target price on shares of Elanco Animal Health from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, November 13th. Finally, Stifel Nicolaus dropped their target price on shares of Elanco Animal Health from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.70.
Read Our Latest Report on ELAN
Elanco Animal Health 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.
Further Reading
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