Orion Portfolio Solutions LLC Raises Stock Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Orion Portfolio Solutions LLC boosted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 8.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 29,227 shares of the company’s stock after acquiring an additional 2,195 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Elanco Animal Health were worth $429,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Atom Investors LP raised its holdings in shares of Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock valued at $5,081,000 after buying an additional 261,559 shares during the period. Davidson Kempner Capital Management LP acquired a new position in Elanco Animal Health in the 2nd quarter valued at about $839,000. Wellington Management Group LLP increased its stake in Elanco Animal Health by 19.2% during the third quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock worth $58,875,000 after purchasing an additional 646,522 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Elanco Animal Health during the third quarter worth about $925,000. Finally, XTX Topco Ltd purchased a new position in shares of Elanco Animal Health in the second quarter valued at approximately $935,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Elanco Animal Health Trading Down 4.7 %

ELAN opened at $11.73 on Thursday. 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 Incorporated has a one year low of $11.40 and a one year high of $18.80. The company has a market cap of $5.80 billion, a P/E ratio of 29.33, a PEG ratio of 2.03 and a beta of 1.41. The business’s 50-day simple moving average is $13.07 and its 200-day simple moving average is $14.21.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating 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 firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ELAN has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Barclays upped their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Leerink Partners began coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a “market perform” rating and a $14.00 target price for the company. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a report on Monday, December 2nd. Finally, UBS Group initiated coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.