Jennison Associates LLC Raises Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Jennison Associates LLC boosted its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,095,710 shares of the company’s stock after purchasing an additional 15,246 shares during the quarter. Jennison Associates LLC owned about 0.22% of Elanco Animal Health worth $13,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ELAN. JPMorgan Chase & Co. grew its stake 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. bought a new stake in Elanco Animal Health in the third quarter worth $19,708,000. Assenagon Asset Management S.A. grew its stake in shares of Elanco Animal Health by 363.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after acquiring an additional 1,214,123 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Elanco Animal Health during the third quarter valued at $9,969,000. Finally, Wellington Management Group LLP increased its holdings in shares of Elanco Animal Health by 19.2% during the third 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 in the last quarter. Institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ELAN shares. Leerink Partners assumed coverage on shares of Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective on the stock. Morgan Stanley cut their price target on shares of 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 decreased their price objective on shares of Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Barclays increased their target price on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, UBS Group assumed coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.29.

Elanco Animal Health Price Performance

Shares of NYSE:ELAN opened at $12.03 on Thursday. The company has a quick ratio of 1.31, a current ratio of 2.55 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.94 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 2.71 and a beta of 1.42. The firm’s 50 day moving average price is $12.10 and its 200-day moving average price is $13.22. Elanco Animal Health Incorporated has a twelve month low of $11.11 and a twelve month high of $18.80.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share 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 business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts expect 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.