BNP Paribas Financial Markets Raises Position in Elanco Animal Health Incorporated (NYSE:ELAN)

BNP Paribas Financial Markets lifted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 2,453.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 260,325 shares of the company’s stock after buying an additional 250,129 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.05% of Elanco Animal Health worth $3,824,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Magnetar Financial LLC boosted its position in Elanco Animal Health by 61.2% during the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after acquiring an additional 3,164,350 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Elanco Animal Health by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,385,467 shares of the company’s stock valued at $93,803,000 after buying an additional 394,921 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Elanco Animal Health during the 2nd quarter valued at about $55,599,000. Douglas Lane & Associates LLC grew its position in shares of Elanco Animal Health by 1.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 3,767,784 shares of the company’s stock valued at $55,349,000 after acquiring an additional 37,349 shares during the period. Finally, Brandes Investment Partners LP grew its position in shares of Elanco Animal Health by 1.3% during the 2nd quarter. Brandes Investment Partners LP now owns 2,945,967 shares of the company’s stock valued at $42,445,000 after acquiring an additional 36,944 shares during the period. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Down 1.8 %

Shares of NYSE ELAN opened at $12.25 on Thursday. Elanco Animal Health Incorporated has a 1 year low of $11.40 and a 1 year high of $18.80. The firm’s 50 day moving average price is $13.52 and its 200 day moving average price is $14.55. The firm has a market cap of $6.06 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. 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 quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. As a group, sell-side analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analysts Set New Price Targets

ELAN has been the topic of several recent research reports. Leerink Partners began coverage on Elanco Animal Health in a report on Monday. They set a “market perform” rating and a $14.00 target price on the stock. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $17.00 to $15.00 in a research note on Thursday, September 19th. Barclays upped their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Finally, Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.75.

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.