New World Advisors LLC Has $452,000 Position in Elanco Animal Health Incorporated (NYSE:ELAN)

New World Advisors LLC grew its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 39.2% during the first quarter, HoldingsChannel.com reports. The firm owned 43,000 shares of the company’s stock after purchasing an additional 12,100 shares during the period. New World Advisors LLC’s holdings in Elanco Animal Health were worth $452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthquest Corp acquired a new position in shares of Elanco Animal Health in the first quarter valued at approximately $56,000. Institute for Wealth Management LLC. increased its position in Elanco Animal Health by 25.9% in the 1st quarter. Institute for Wealth Management LLC. now owns 44,716 shares of the company’s stock valued at $470,000 after acquiring an additional 9,200 shares during the period. Rakuten Securities Inc. raised its stake in shares of Elanco Animal Health by 81.2% during the first quarter. Rakuten Securities Inc. now owns 37,275 shares of the company’s stock valued at $391,000 after acquiring an additional 16,700 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Elanco Animal Health during the first quarter worth $111,000. Finally, SG Americas Securities LLC acquired a new position in shares of Elanco Animal Health during the first quarter worth $891,000. 97.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Elanco Animal Health from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. UBS Group lowered their price objective on Elanco Animal Health from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Barclays cut their price objective on Elanco Animal Health from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler decreased their target price on shares of Elanco Animal Health from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Finally, Stifel Nicolaus raised their price target on shares of Elanco Animal Health from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.17.

Elanco Animal Health Stock Performance

ELAN stock opened at $13.77 on Thursday. The firm has a market cap of $6.84 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.65 and a beta of 1.67. The company has a current ratio of 2.71, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $12.15 and a 200-day moving average price of $11.49. Elanco Animal Health Incorporated has a 1-year low of $8.02 and a 1-year high of $18.09.

Elanco Animal Health (NYSE:ELAN) last released its earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Elanco Animal Health Company 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.