Pathstone Holdings LLC Has $8.03 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Pathstone Holdings LLC lifted its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 546,793 shares of the company’s stock after acquiring an additional 3,698 shares during the quarter. Pathstone Holdings LLC owned approximately 0.11% of Elanco Animal Health worth $8,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ELAN. Canada Pension Plan Investment Board bought a new stake in Elanco Animal Health in the second quarter worth approximately $55,599,000. Magnetar Financial LLC lifted its stake in shares of Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after purchasing an additional 3,164,350 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Elanco Animal Health by 363.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after purchasing an additional 1,214,123 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in Elanco Animal Health during the second quarter worth $16,043,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after buying an additional 852,281 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Elanco Animal Health Stock Down 0.3 %

ELAN opened at $13.41 on Friday. The business has a 50 day moving average of $13.72 and a 200-day moving average of $14.75. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 1.39 and a beta of 1.41. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 1-year low of $11.40 and a 1-year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. As a group, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ELAN. Barclays upped their price target on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.14.

About Elanco Animal Health

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.