Everence Capital Management Inc. Makes New $209,000 Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Everence Capital Management Inc. bought a new position in Elanco Animal Health Incorporated (NYSE:ELAN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,250 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors have also made changes to their positions in ELAN. Benjamin F. Edwards & Company Inc. grew its position in Elanco Animal Health by 337.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock worth $26,000 after purchasing an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Elanco Animal Health during the third quarter valued at $29,000. AM Squared Ltd acquired a new position in Elanco Animal Health during the third quarter valued at $34,000. Wilmington Savings Fund Society FSB purchased a new stake in Elanco Animal Health in the 3rd quarter worth about $35,000. Finally, Quarry LP purchased a new stake in shares of Elanco Animal Health in the second quarter worth approximately $40,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELAN. Leerink Partners assumed coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective on the stock. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Stifel Nicolaus dropped their price target on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays upped their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.43.

Elanco Animal Health Trading Down 2.3 %

ELAN opened at $11.53 on Thursday. Elanco Animal Health Incorporated has a 1-year low of $11.28 and a 1-year high of $18.80. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The company has a market cap of $5.70 billion, a P/E ratio of 28.83, a PEG ratio of 2.03 and a beta of 1.41. The company’s 50 day moving average is $12.71 and its 200-day moving average is $13.55.

Elanco Animal Health (NYSE:ELAN) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted $0.18 earnings per share. Elanco Animal Health’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts predict that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current fiscal year.

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.