Confluence Wealth Services Inc. Makes New Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

Confluence Wealth Services Inc. purchased a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,632 shares of the company’s stock, valued at approximately $152,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ELAN. ORG Wealth Partners LLC purchased a new stake in shares of Elanco Animal Health during the third quarter valued at $29,000. AM Squared Ltd purchased a new position in Elanco Animal Health in the third quarter worth about $34,000. Wilmington Savings Fund Society FSB bought a new position in shares of Elanco Animal Health in the third quarter worth about $35,000. Farther Finance Advisors LLC raised its stake in shares of Elanco Animal Health by 158.7% in the third quarter. Farther Finance Advisors LLC now owns 3,332 shares of the company’s stock worth $49,000 after buying an additional 2,044 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Elanco Animal Health by 89.9% in the third quarter. Venturi Wealth Management LLC now owns 3,382 shares of the company’s stock worth $50,000 after buying an additional 1,601 shares during the period. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Stock Performance

NYSE:ELAN opened at $11.97 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. Elanco Animal Health Incorporated has a 1 year low of $11.11 and a 1 year high of $18.80. The stock’s 50 day simple moving average is $12.08 and its two-hundred day simple moving average is $13.21. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.71 and a beta of 1.42.

Elanco Animal Health (NYSE:ELAN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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 objective on the stock. Morgan Stanley decreased their price objective on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus decreased their price objective on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays lifted 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, Leerink Partners initiated coverage on Elanco Animal Health in a research note on Monday, December 2nd. They set a “market perform” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.29.

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.