Point72 Asset Management L.P. Purchases Shares of 1,341,582 Elanco Animal Health Incorporated (NYSE:ELAN)

Point72 Asset Management L.P. bought a new position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,341,582 shares of the company's stock, valued at approximately $19,708,000. Point72 Asset Management L.P. owned about 0.27% of Elanco Animal Health at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Polar Asset Management Partners Inc. increased its position in Elanco Animal Health by 312.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 554,100 shares of the company's stock valued at $8,140,000 after purchasing an additional 419,800 shares during the period. Parkman Healthcare Partners LLC increased its position in shares of Elanco Animal Health by 1.4% during the third quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company's stock valued at $1,878,000 after buying an additional 1,770 shares during the period. Ionic Capital Management LLC purchased a new position in shares of Elanco Animal Health during the third quarter valued at about $2,330,000. HighTower Advisors LLC raised its stake in Elanco Animal Health by 34.0% in the third quarter. HighTower Advisors LLC now owns 16,119 shares of the company's stock worth $237,000 after buying an additional 4,093 shares in the last quarter. Finally, Clearline Capital LP grew its holdings in shares of Elanco Animal Health by 39.9% during the 3rd quarter. Clearline Capital LP now owns 51,933 shares of the company's stock worth $763,000 after acquiring an additional 14,800 shares during the period. Hedge funds and other institutional investors own 97.48% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Leerink Partners initiated coverage on Elanco Animal Health in a report on Monday, December 2nd. They issued a "market perform" rating and a $14.00 price objective for the company. Leerink Partnrs upgraded shares of Elanco Animal Health to a "hold" rating in a report on Monday, December 2nd. Morgan Stanley lowered shares of Elanco Animal Health from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Stifel Nicolaus reissued a "buy" rating and issued a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. Finally, 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 report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Elanco Animal Health has a consensus rating of "Hold" and a consensus target price of $16.75.

Elanco Animal Health Stock Up 3.1 %

Shares of Elanco Animal Health stock traded up $0.38 on Friday, reaching $12.50. The company's stock had a trading volume of 4,585,191 shares, compared to its average volume of 4,551,213. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.98 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 Incorporated has a 52 week low of $11.40 and a 52 week high of $18.80. The firm's fifty day simple moving average is $13.43 and its two-hundred day simple moving average is $14.49.

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 analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. Elanco Animal Health's revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. Equities analysts anticipate that Elanco Animal Health Incorporated will post 0.92 earnings per share for the current 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.