Edgestream Partners L.P. Acquires Shares of 62,958 Elanco Animal Health Incorporated (NYSE:ELAN)

Edgestream Partners L.P. acquired a new position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 62,958 shares of the company's stock, valued at approximately $925,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new stake in shares of Elanco Animal Health in the third quarter valued at approximately $273,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Elanco Animal Health by 1.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,683 shares of the company's stock valued at $1,582,000 after purchasing an additional 2,051 shares during the period. Freedom Investment Management Inc. grew its position in Elanco Animal Health by 26.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 19,021 shares of the company's stock worth $279,000 after purchasing an additional 3,952 shares during the last quarter. BNP Paribas Financial Markets grew its position in Elanco Animal Health by 2,453.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 260,325 shares of the company's stock worth $3,824,000 after purchasing an additional 250,129 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings 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 worth $93,803,000 after purchasing an additional 394,921 shares during the period. Institutional investors own 97.48% of the company's stock.

Elanco Animal Health Price Performance

Elanco Animal Health stock traded down $0.13 during trading hours on Thursday, hitting $12.12. 6,368,892 shares of the stock were exchanged, compared to its average volume of 4,773,366. The stock has a market capitalization of $5.99 billion, a P/E ratio of 30.63, a P/E/G ratio of 2.02 and a beta of 1.41. The business's 50-day moving average is $13.49 and its two-hundred day moving average is $14.54. 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 12 month low of $11.40 and a 12 month high of $18.80.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $0.18 EPS. Elanco Animal Health's revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts expect that Elanco Animal Health Incorporated will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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