Douglas Lane & Associates LLC Sells 77,835 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Douglas Lane & Associates LLC lessened its stake in Elanco Animal Health Incorporated (NYSE:ELAN) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 3,689,949 shares of the company’s stock after selling 77,835 shares during the period. Douglas Lane & Associates LLC’s holdings in Elanco Animal Health were worth $44,685,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Elanco Animal Health by 76.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after acquiring an additional 4,361,799 shares during the period. Canada Pension Plan Investment Board purchased a new position in Elanco Animal Health in the 2nd quarter valued at approximately $55,599,000. Magnetar Financial LLC lifted its position in shares of Elanco Animal Health by 61.2% during the second quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock worth $120,298,000 after acquiring an additional 3,164,350 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Elanco Animal Health in the third quarter worth $19,708,000. Finally, Assenagon Asset Management S.A. grew its position 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 valued at $22,748,000 after purchasing an additional 1,214,123 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

ELAN has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their target price on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. Leerink Partners started 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 target for the company. Leerink Partnrs upgraded Elanco Animal Health to a “hold” rating in a research report on Monday, December 2nd. UBS Group began coverage on Elanco Animal Health in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Morgan Stanley cut Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.43.

Elanco Animal Health Stock Down 1.9 %

Shares of ELAN stock traded down $0.22 during midday trading on Wednesday, reaching $11.58. 3,590,174 shares of the stock were exchanged, compared to its average volume of 4,126,589. The company’s 50 day moving average is $12.73 and its two-hundred day moving average is $13.57. The firm has a market cap of $5.72 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.41. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. Elanco Animal Health Incorporated has a 1 year low of $11.28 and a 1 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 for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.92 EPS for the current year.

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.