JPMorgan Chase & Co. Increases Position in Elanco Animal Health Incorporated (NYSE:ELAN)

JPMorgan Chase & Co. boosted its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 76.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,057,656 shares of the company's stock after buying an additional 4,361,799 shares during the period. JPMorgan Chase & Co. owned 2.03% of Elanco Animal Health worth $147,747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Elanco Animal Health during the second quarter worth about $55,599,000. Magnetar Financial LLC grew its stake in shares of Elanco Animal Health by 61.2% in the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company's stock valued at $120,298,000 after purchasing an additional 3,164,350 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Elanco Animal Health in the third quarter valued at approximately $19,708,000. Assenagon Asset Management S.A. raised its stake in shares of Elanco Animal Health by 363.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company's stock worth $22,748,000 after purchasing an additional 1,214,123 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Elanco Animal Health during the second quarter worth $16,043,000. Hedge funds and other institutional investors own 97.48% of the company's stock.

Elanco Animal Health Price Performance

Shares of ELAN traded up $0.29 on Wednesday, reaching $12.11. The stock had a trading volume of 2,389,227 shares, compared to its average volume of 4,740,942. Elanco Animal Health Incorporated has a twelve month low of $11.40 and a twelve month high of $18.80. The firm has a market capitalization of $5.99 billion, a PE ratio of 30.28, a PEG ratio of 2.03 and a beta of 1.41. The firm has a 50-day moving average of $12.77 and a 200 day moving average of $13.77. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the business posted $0.18 earnings per share. The business's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts expect that Elanco Animal Health Incorporated will post 0.92 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on ELAN shares. Leerink Partners started coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a "market perform" rating and a $14.00 price objective for the company. Stifel Nicolaus reiterated a "buy" rating and set a $20.00 price target on shares of Elanco Animal Health in a research note on Thursday, September 19th. Barclays raised their price objective on shares of Elanco Animal Health from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. UBS Group began coverage on Elanco Animal Health in a research report on Monday, December 9th. They set a "buy" rating and a $18.00 target price on the stock. Finally, Leerink Partnrs raised Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $16.71.

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.