Linscomb Wealth Inc. Grows Stock Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Linscomb Wealth Inc. grew its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,447 shares of the company’s stock after buying an additional 2,975 shares during the period. Linscomb Wealth Inc.’s holdings in Elanco Animal Health were worth $1,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ELAN. Oppenheimer Asset Management Inc. lifted its stake in shares of Elanco Animal Health by 81.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,193 shares of the company’s stock valued at $488,000 after buying an additional 14,902 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Elanco Animal Health by 10.2% during the third quarter. Victory Capital Management Inc. now owns 102,414 shares of the company’s stock worth $1,504,000 after acquiring an additional 9,480 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Elanco Animal Health in the third quarter worth $173,000. Rakuten Securities Inc. grew its position in shares of Elanco Animal Health by 270,525.0% in the third quarter. Rakuten Securities Inc. now owns 10,825 shares of the company’s stock valued at $159,000 after purchasing an additional 10,821 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Elanco Animal Health during the 3rd quarter valued at $380,000. Institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ELAN. Barclays raised their target price 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. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research note on Thursday, September 19th. Finally, Morgan Stanley lowered shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elanco Animal Health presently has an average rating of “Hold” and a consensus price target of $17.14.

Elanco Animal Health Price Performance

ELAN stock opened at $13.98 on Friday. The firm has a 50 day simple moving average of $13.82 and a two-hundred day simple moving average of $14.75. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. The stock has a market cap of $6.91 billion, a PE ratio of 34.95, a P/E/G ratio of 1.48 and a beta of 1.41. Elanco Animal Health Incorporated has a one year low of $11.20 and a one year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its earnings results 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. 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 previous year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal year.

Insider Activity at Elanco Animal Health

In other Elanco Animal Health news, Director Michael J. Harrington purchased 3,500 shares of the stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $14.85 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now directly owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. This trade represents a 4.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is currently owned by insiders.

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.