New England Asset Management Inc. reduced its position in shares of Elanco Animal Health (NYSE:ELAN) by 36.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,876 shares of the company’s stock after selling 28,831 shares during the period. New England Asset Management Inc.’s holdings in Elanco Animal Health were worth $1,686,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC purchased a new position in Elanco Animal Health in the fourth quarter valued at about $18,592,000. Deutsche Bank AG bought a new stake in Elanco Animal Health during the 4th quarter valued at approximately $60,000. Comerica Bank bought a new stake in Elanco Animal Health during the 1st quarter valued at approximately $384,000. First Allied Advisory Services Inc. bought a new stake in Elanco Animal Health during the 1st quarter valued at approximately $228,000. Finally, First Mercantile Trust Co. bought a new stake in Elanco Animal Health during the 1st quarter valued at approximately $65,000.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Elanco Animal Health from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Bank of America downgraded Elanco Animal Health from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Monday, August 26th. Goldman Sachs Group initiated coverage on Elanco Animal Health in a research note on Monday, September 9th. They set a “positive” rating for the company. They noted that the move was a valuation call. Finally, UBS Group raised Elanco Animal Health from a “sell” rating to a “neutral” rating and cut their price target for the company from $31.00 to $30.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Elanco Animal Health has a consensus rating of “Hold” and an average target price of $33.79.
Shares of Elanco Animal Health stock traded up $0.40 on Friday, reaching $27.53. 12,623,509 shares of the company traded hands, compared to its average volume of 4,132,774. Elanco Animal Health has a 52 week low of $25.51 and a 52 week high of $37.61. The company has a 50 day moving average of $28.53 and a 200 day moving average of $31.49. The firm has a market capitalization of $10.07 billion and a PE ratio of 23.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.07 and a quick ratio of 1.71.
Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Elanco Animal Health had a net margin of 4.69% and a return on equity of 7.83%. The firm had revenue of $781.60 million during the quarter, compared to the consensus estimate of $781.49 million. Elanco Animal Health’s revenue was up 1.5% on a year-over-year basis. As a group, analysts anticipate that Elanco Animal Health will post 1.08 earnings per share for the current year.
Elanco Animal Health Company Profile
Elanco Animal Health Incorporated, an animal health company, develops, manufactures, and markets products for companion and food animals. The company offers companion animal disease prevention products, such as parasiticide products that protect pets from worms, fleas, and ticks; companion animal therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications; vaccines, nutritional enzymes, and animal-only antibiotics; and a range of food animal products used in ruminant and swine production.
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