Elanco Animal Health Incorporated (NYSE:ELAN) Shares Bought by Clearline Capital LP

Clearline Capital LP grew its stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 39.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,933 shares of the company’s stock after acquiring an additional 14,800 shares during the period. Clearline Capital LP’s holdings in Elanco Animal Health were worth $763,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its holdings in Elanco Animal Health by 337.7% during the second 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 last quarter. ORG Wealth Partners LLC acquired a new stake in Elanco Animal Health in the third quarter valued at $29,000. ORG Partners LLC acquired a new position in shares of Elanco Animal Health during the 2nd quarter worth $31,000. nVerses Capital LLC purchased a new stake in shares of Elanco Animal Health in the 2nd quarter worth about $32,000. Finally, AM Squared Ltd acquired a new stake in Elanco Animal Health in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. Barclays boosted their price target on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Leerink Partners assumed coverage on shares of Elanco Animal Health in a research note on Monday. They issued a “market perform” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Elanco Animal Health currently has an average rating of “Hold” and a consensus price target of $16.75.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $13.21 on Monday. The company has a market cap of $6.53 billion, a P/E ratio of 33.03, a P/E/G ratio of 1.38 and a beta of 1.41. The business has a fifty day simple moving average of $13.57 and a 200-day simple moving average of $14.63. Elanco Animal Health Incorporated has a 52 week low of $11.40 and a 52 week high of $18.80. 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) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS 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 company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.18 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts forecast that Elanco Animal Health Incorporated will post 0.91 EPS for the current year.

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.