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

Institute for Wealth Management LLC. grew its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 11.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,516 shares of the company’s stock after acquiring an additional 3,656 shares during the period. Institute for Wealth Management LLC.’s holdings in Elanco Animal Health were worth $430,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Elanco Animal Health by 0.8% in the third quarter. Geode Capital Management LLC now owns 7,868,675 shares of the company’s stock worth $115,623,000 after purchasing an additional 65,303 shares in the last quarter. Atom Investors LP grew its position in shares of Elanco Animal Health by 310.3% in the 3rd quarter. Atom Investors LP now owns 345,855 shares of the company’s stock worth $5,081,000 after buying an additional 261,559 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Elanco Animal Health by 24.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,084,629 shares of the company’s stock worth $13,135,000 after acquiring an additional 209,734 shares in the last quarter. Wellington Management Group LLP lifted its position in Elanco Animal Health by 19.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,007,805 shares of the company’s stock valued at $58,875,000 after acquiring an additional 646,522 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Elanco Animal Health by 14.0% during the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock worth $5,349,000 after acquiring an additional 45,795 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

ELAN has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday. Leerink Partners started coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. Barclays boosted their target price on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus cut their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned 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 target price of $16.29.

Elanco Animal Health Price Performance

ELAN opened at $12.03 on Friday. The company’s 50-day simple moving average is $12.19 and its two-hundred day simple moving average is $13.24. 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 stock 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. 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 issued its quarterly earnings data 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. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. As a group, analysts predict 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.