Jennison Associates LLC Purchases 448,368 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Jennison Associates LLC increased its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 70.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,080,464 shares of the company's stock after purchasing an additional 448,368 shares during the period. Jennison Associates LLC owned 0.22% of Elanco Animal Health worth $15,872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its position 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 purchasing an additional 1,361 shares during the period. ORG Wealth Partners LLC bought a new stake in Elanco Animal Health in the third quarter valued at $29,000. nVerses Capital LLC bought a new position in shares of Elanco Animal Health during the second quarter worth about $32,000. ORG Partners LLC acquired a new stake in shares of Elanco Animal Health in the 2nd quarter worth about $31,000. Finally, AM Squared Ltd bought a new stake in Elanco Animal Health in the 3rd quarter valued at about $34,000. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Stock Down 0.4 %

Elanco Animal Health stock opened at $13.35 on Friday. The firm's 50 day moving average price is $13.70 and its two-hundred day moving average price is $14.75. 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 twelve month low of $11.40 and a twelve month high of $18.80. The firm has a market cap of $6.60 billion, a PE ratio of 33.38, a P/E/G ratio of 1.40 and a beta of 1.41.

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 for the quarter, topping the consensus estimate 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 analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $0.18 EPS. The business's revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ELAN. Stifel Nicolaus reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Elanco Animal Health in a report on Thursday, September 19th. Morgan Stanley lowered Elanco Animal Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Finally, Barclays boosted their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company 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.