The Manufacturers Life Insurance Company Has $93.80 Million Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

The Manufacturers Life Insurance Company lifted its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 6.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,385,467 shares of the company's stock after buying an additional 394,921 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.29% of Elanco Animal Health worth $93,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commerce Bank increased its holdings in shares of Elanco Animal Health by 2.2% during the third quarter. Commerce Bank now owns 35,114 shares of the company's stock worth $516,000 after purchasing an additional 741 shares during the period. 180 Wealth Advisors LLC increased its holdings in shares of Elanco Animal Health by 3.6% during the second quarter. 180 Wealth Advisors LLC now owns 25,716 shares of the company's stock worth $352,000 after purchasing an additional 893 shares during the period. HBK Sorce Advisory LLC increased its holdings in shares of Elanco Animal Health by 9.4% during the second quarter. HBK Sorce Advisory LLC now owns 12,920 shares of the company's stock worth $186,000 after purchasing an additional 1,107 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Elanco Animal Health by 11.1% during the second quarter. Atomi Financial Group Inc. now owns 12,260 shares of the company's stock worth $177,000 after purchasing an additional 1,221 shares during the period. Finally, Keene & Associates Inc. increased its holdings in shares of Elanco Animal Health by 5.7% during the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company's stock worth $337,000 after purchasing an additional 1,240 shares during the period. Institutional investors own 97.48% of the company's stock.

Elanco Animal Health Stock Performance

Elanco Animal Health stock remained flat at $13.13 during mid-day trading on Thursday. 4,104,267 shares of the company's stock were exchanged, compared to its average volume of 4,749,459. Elanco Animal Health Incorporated has a 1 year low of $11.40 and a 1 year high of $18.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55. The firm has a market cap of $6.49 billion, a P/E ratio of 32.83, a P/E/G ratio of 1.40 and a beta of 1.41. The company has a fifty day moving average of $13.63 and a two-hundred day moving average of $14.68.

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, beating 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company's quarterly revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $20.00 target price on shares of Elanco Animal Health in a report on Thursday, September 19th. Barclays lifted 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 note on Friday, November 8th. Finally, Morgan Stanley cut shares of Elanco Animal Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.14.

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.