Equitable Trust Co. Acquires Shares of 125,807 Elanco Animal Health Incorporated (NYSE:ELAN)

Equitable Trust Co. bought a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 125,807 shares of the company's stock, valued at approximately $1,524,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Commerce Bank boosted its stake in shares of Elanco Animal Health by 2.2% during the third quarter. Commerce Bank now owns 35,114 shares of the company's stock valued at $516,000 after purchasing an additional 741 shares in the last quarter. Keene & Associates Inc. boosted its stake in shares of Elanco Animal Health by 5.7% during the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company's stock valued at $337,000 after purchasing an additional 1,240 shares in the last quarter. M&T Bank Corp boosted its stake in Elanco Animal Health by 5.9% in the third quarter. M&T Bank Corp now owns 26,407 shares of the company's stock valued at $388,000 after acquiring an additional 1,464 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Elanco Animal Health by 89.9% in the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company's stock valued at $50,000 after acquiring an additional 1,601 shares in the last quarter. Finally, Parkman Healthcare Partners LLC boosted its stake in Elanco Animal Health by 1.4% in the third quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company's stock valued at $1,878,000 after acquiring an additional 1,770 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Stock Performance

Shares of NYSE:ELAN traded down $0.40 on Friday, hitting $11.26. 7,136,767 shares of the company were exchanged, compared to its average volume of 4,667,715. Elanco Animal Health Incorporated has a 1-year low of $10.77 and a 1-year high of $18.80. The stock's 50 day moving average price is $11.94 and its 200 day moving average price is $13.14. 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 firm has a market capitalization of $5.57 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 2.69 and a beta of 1.42.

Wall Street Analysts Forecast Growth

ELAN has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on shares of Elanco Animal Health from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Leerink Partnrs upgraded shares of Elanco Animal Health to a "hold" rating in a research note on Monday, December 2nd. UBS Group initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They issued a "buy" rating and a $18.00 target price for the company. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research note on Monday, December 2nd. They issued a "market perform" rating and a $14.00 target price for the company. Finally, Barclays raised their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $16.29.

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.