Quartz Partners LLC Reduces Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Quartz Partners LLC cut its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 14.8% during the 4th quarter, Holdings Channel reports. The firm owned 37,519 shares of the company’s stock after selling 6,492 shares during the period. Quartz Partners LLC’s holdings in Elanco Animal Health were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock worth $147,747,000 after buying an additional 4,361,799 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Elanco Animal Health in the third quarter worth $19,708,000. Private Management Group Inc. boosted its holdings in Elanco Animal Health by 63.4% in the fourth quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock valued at $28,545,000 after acquiring an additional 914,808 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Elanco Animal Health in the third quarter valued at $9,969,000. Finally, Wellington Management Group LLP increased 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 purchasing an additional 646,522 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $11.02 on Monday. The company has a 50 day simple moving average of $11.80 and a two-hundred day simple moving average of $13.10. Elanco Animal Health Incorporated has a fifty-two week low of $10.77 and a fifty-two week high of $18.80. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 2.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

Wall Street Analysts Forecast Growth

ELAN has been the subject of several research analyst reports. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. UBS Group started coverage on shares of Elanco Animal Health in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective for the company. Morgan Stanley reduced their target price on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Stifel Nicolaus lowered their target price on Elanco Animal Health from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday. Finally, Barclays upped their price target on Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.00.

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.