Harbor Capital Advisors Inc. Acquires 209,734 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Harbor Capital Advisors Inc. lifted its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,084,629 shares of the company’s stock after acquiring an additional 209,734 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.22% of Elanco Animal Health worth $13,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Everence Capital Management Inc. purchased a new stake in Elanco Animal Health in the fourth quarter worth about $209,000. JPMorgan Chase & Co. boosted its position in shares of Elanco Animal Health by 76.6% during the third quarter. JPMorgan Chase & Co. now owns 10,057,656 shares of the company’s stock valued at $147,747,000 after purchasing an additional 4,361,799 shares in the last quarter. Franklin Resources Inc. grew its stake in Elanco Animal Health by 14.0% in the third quarter. Franklin Resources Inc. now owns 372,230 shares of the company’s stock worth $5,349,000 after purchasing an additional 45,795 shares during the period. Tidal Investments LLC raised its holdings in Elanco Animal Health by 25.5% in the third quarter. Tidal Investments LLC now owns 84,578 shares of the company’s stock worth $1,242,000 after purchasing an additional 17,206 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Elanco Animal Health during the third quarter valued at $35,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group began coverage on shares of Elanco Animal Health in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 price objective on the stock. Leerink Partners began coverage on Elanco Animal Health in a research report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective for the company. Leerink Partnrs raised Elanco Animal Health to a “hold” rating in a research note on Monday, December 2nd. Barclays upped their price target on shares of Elanco Animal Health from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $17.00 to $15.00 in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.43.

Elanco Animal Health Stock Performance

Shares of ELAN traded down $0.29 during trading hours on Friday, hitting $11.26. The stock had a trading volume of 2,625,834 shares, compared to its average volume of 4,289,860. Elanco Animal Health Incorporated has a 12 month low of $11.11 and a 12 month high of $18.80. The stock has a fifty day moving average price of $12.69 and a 200 day moving average price of $13.54. 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 firm has a market capitalization of $5.57 billion, a PE ratio of 28.15, a PEG ratio of 1.96 and a beta of 1.41.

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. Analysts anticipate 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.