Charles Schwab Investment Management Inc. Lowers Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Charles Schwab Investment Management Inc. decreased its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,524,616 shares of the company's stock after selling 160,443 shares during the period. Charles Schwab Investment Management Inc. owned 0.92% of Elanco Animal Health worth $66,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ELAN. Tidal Investments LLC lifted its position in shares of Elanco Animal Health by 34.6% in the 1st quarter. Tidal Investments LLC now owns 22,575 shares of the company's stock worth $368,000 after purchasing an additional 5,797 shares during the period. Comerica Bank boosted its position in Elanco Animal Health by 272.6% during the first quarter. Comerica Bank now owns 11,716 shares of the company's stock valued at $191,000 after acquiring an additional 8,572 shares during the last quarter. Cetera Advisors LLC acquired a new stake in Elanco Animal Health during the 1st quarter worth about $213,000. SG Capital Management LLC bought a new position in shares of Elanco Animal Health in the 1st quarter worth about $4,211,000. Finally, Polianta Ltd acquired a new position in shares of Elanco Animal Health in the 2nd quarter valued at about $920,000. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Stock Up 0.6 %

Shares of NYSE ELAN traded up $0.08 during trading on Friday, hitting $13.21. The stock had a trading volume of 1,641,845 shares, compared to its average volume of 4,736,006. The firm has a fifty day moving average of $13.59 and a two-hundred day moving average of $14.67. The company has a market capitalization of $6.53 billion, a PE ratio of 32.83, a PEG ratio of 1.37 and a beta of 1.41. 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 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 issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. 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 firm posted $0.18 EPS. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays boosted their price target 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. Stifel Nicolaus reissued a "buy" rating and set a $20.00 target price on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Morgan Stanley lowered Elanco Animal Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $17.00 to $15.00 in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.14.

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.