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

Clearline Capital LP lifted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 39.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 51,933 shares of the company’s stock after buying an additional 14,800 shares during the quarter. Clearline Capital LP’s holdings in Elanco Animal Health were worth $763,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ELAN. Benjamin F. Edwards & Company Inc. boosted its position in Elanco Animal Health by 337.7% during the 2nd 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 period. ORG Wealth Partners LLC acquired a new stake in shares of Elanco Animal Health in the third quarter valued at about $29,000. nVerses Capital LLC purchased a new stake in shares of Elanco Animal Health during the 2nd quarter valued at about $32,000. ORG Partners LLC acquired a new position in Elanco Animal Health during the 2nd quarter worth approximately $31,000. Finally, AM Squared Ltd purchased a new position in Elanco Animal Health in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Trading Up 0.6 %

Shares of NYSE ELAN opened at $13.21 on Monday. The stock has a market capitalization of $6.53 billion, a P/E ratio of 33.03, a PEG ratio of 1.38 and a beta of 1.41. The stock’s 50 day moving average price is $13.57 and its two-hundred day moving average price is $14.63. 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.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. On average, analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ELAN shares. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $17.00 to $15.00 in a research report on Thursday, September 19th. Barclays upped 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 report on Friday, November 8th. Leerink Partners assumed coverage on Elanco Animal Health in a research note on Monday. They issued a “market perform” rating and a $14.00 price target on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.75.

Elanco Animal Health 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.