Assenagon Asset Management S.A. Sells 1,369,833 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Assenagon Asset Management S.A. lessened its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 88.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,673 shares of the company's stock after selling 1,369,833 shares during the period. Assenagon Asset Management S.A.'s holdings in Elanco Animal Health were worth $2,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ELAN. Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 buying an additional 1,361 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Elanco Animal Health in the third quarter worth $29,000. AM Squared Ltd purchased a new position in shares of Elanco Animal Health in the 3rd quarter valued at $34,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Elanco Animal Health during the 3rd quarter valued at $35,000. Finally, Quarry LP purchased a new stake in Elanco Animal Health during the 2nd quarter worth $40,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELAN has been the subject of a number of recent analyst reports. Leerink Partnrs raised shares of Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. Barclays raised their price objective 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. Leerink Partners initiated coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price target on the stock. UBS Group assumed coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They set a "buy" rating and a $18.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $16.43.

Elanco Animal Health Price Performance

Shares of NYSE ELAN traded down $0.06 during mid-day trading on Thursday, reaching $12.05. 3,315,272 shares of the company traded hands, compared to its average volume of 3,991,577. Elanco Animal Health Incorporated has a fifty-two week low of $11.11 and a fifty-two week high of $18.80. The firm has a market cap of $5.95 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.56 and a beta of 1.41. The stock has a fifty day simple moving average of $12.39 and a 200-day simple moving average of $13.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The company's quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.92 EPS 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.