Institute for Wealth Management LLC. Raises Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Institute for Wealth Management LLC. raised its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,516 shares of the company’s stock after buying an additional 3,656 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Elanco Animal Health were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Commerce Bank boosted its position in shares of Elanco Animal Health by 2.2% during the 3rd quarter. Commerce Bank now owns 35,114 shares of the company’s stock valued at $516,000 after acquiring an additional 741 shares during the last quarter. Keene & Associates Inc. raised its stake in Elanco Animal Health by 5.7% in the third quarter. Keene & Associates Inc. now owns 22,945 shares of the company’s stock valued at $337,000 after purchasing an additional 1,240 shares in the last quarter. M&T Bank Corp lifted its position in Elanco Animal Health by 5.9% during the third quarter. M&T Bank Corp now owns 26,407 shares of the company’s stock valued at $388,000 after purchasing an additional 1,464 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Elanco Animal Health by 89.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock worth $50,000 after buying an additional 1,601 shares in the last quarter. Finally, Parkman Healthcare Partners LLC increased its holdings in shares of Elanco Animal Health by 1.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 127,812 shares of the company’s stock worth $1,878,000 after buying an additional 1,770 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ELAN shares. Stifel Nicolaus dropped their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Leerink Partners started 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. 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 price objective on the stock. Barclays boosted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Leerink Partnrs upgraded shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Elanco Animal Health currently has an average rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Trading Down 3.5 %

NYSE:ELAN opened at $12.03 on Friday. The firm has a market capitalization of $5.95 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.76 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. The company has a fifty day moving average of $12.19 and a 200 day moving average of $13.24. Elanco Animal Health Incorporated has a 52 week low of $11.11 and a 52 week high of $18.80.

Elanco Animal Health (NYSE:ELAN) last posted 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. 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 analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $0.18 earnings per share. Elanco Animal Health’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share 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.