Ionic Capital Management LLC Takes $2.33 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Ionic Capital Management LLC purchased a new position in Elanco Animal Health Incorporated (NYSE:ELAN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 158,597 shares of the company’s stock, valued at approximately $2,330,000.

Several other large investors have also modified their holdings of the business. Tidal Investments LLC increased its position in shares of Elanco Animal Health by 34.6% during the first quarter. Tidal Investments LLC now owns 22,575 shares of the company’s stock worth $368,000 after purchasing an additional 5,797 shares in the last quarter. Comerica Bank boosted its holdings in Elanco Animal Health by 272.6% during the first quarter. Comerica Bank now owns 11,716 shares of the company’s stock worth $191,000 after buying an additional 8,572 shares in the last quarter. Cetera Advisors LLC acquired a new position in Elanco Animal Health in the 1st quarter valued at about $213,000. Clarus Wealth Advisors acquired a new stake in Elanco Animal Health during the second quarter worth about $449,000. Finally, SG Americas Securities LLC acquired a new position in Elanco Animal Health in the 2nd quarter worth $401,000. Institutional investors own 97.48% of the company’s stock.

Elanco Animal Health Stock Performance

Elanco Animal Health stock opened at $13.48 on Tuesday. Elanco Animal Health Incorporated has a 12 month low of $11.40 and a 12 month high of $18.80. 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 company has a market cap of $6.66 billion, a PE ratio of 33.69, a P/E/G ratio of 1.38 and a beta of 1.41. The company has a fifty day moving average price of $13.57 and a two-hundred day moving average price of $14.61.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ELAN. Barclays raised their target price on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price target on shares of Elanco Animal Health in a research report on Thursday, September 19th. Leerink Partners assumed coverage on Elanco Animal Health in a research note on Monday. They set a “market perform” rating and a $14.00 target price for the company. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday. Finally, Morgan Stanley lowered Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $17.00 to $15.00 in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.75.

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.