Atom Investors LP Raises Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Atom Investors LP increased its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 310.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,855 shares of the company's stock after buying an additional 261,559 shares during the period. Atom Investors LP owned 0.07% of Elanco Animal Health worth $5,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ELAN. Point72 Asia Singapore Pte. Ltd. purchased a new position in Elanco Animal Health during the 3rd quarter valued at about $281,000. Edgestream Partners L.P. bought a new position in shares of Elanco Animal Health during the third quarter valued at approximately $925,000. Capstone Investment Advisors LLC purchased a new position in shares of Elanco Animal Health during the third quarter valued at approximately $273,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Elanco Animal Health by 1.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,683 shares of the company's stock worth $1,582,000 after purchasing an additional 2,051 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its stake in shares of 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 buying an additional 3,952 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ELAN has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a "buy" rating and set a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. Leerink Partners started coverage on shares of Elanco Animal Health in a research note on Monday. They issued a "market perform" rating and a $14.00 price target on the stock. Morgan Stanley lowered shares of Elanco Animal Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Barclays upped their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $16.75.

Elanco Animal Health Stock Performance

Shares of NYSE ELAN traded up $0.27 during trading on Monday, reaching $13.48. 3,476,994 shares of the company traded hands, compared to its average volume of 4,730,579. The firm has a 50 day simple moving average of $13.57 and a 200-day simple moving average of $14.61. Elanco Animal Health Incorporated has a 52-week low of $11.40 and a 52-week high of $18.80. The stock has a market capitalization of $6.66 billion, a PE ratio of 32.55, a P/E/G ratio of 1.38 and a beta of 1.41. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. Equities research analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Elanco Animal Health 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.