Edgestream Partners L.P. Invests $925,000 in Elanco Animal Health Incorporated (NYSE:ELAN)

Edgestream Partners L.P. acquired a new stake in Elanco Animal Health Incorporated (NYSE:ELAN) in the third quarter, HoldingsChannel reports. The firm acquired 62,958 shares of the company’s stock, valued at approximately $925,000.

Several other hedge funds have also added to or reduced their stakes in ELAN. Benjamin F. Edwards & Company Inc. raised its stake in shares of Elanco Animal Health by 337.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after acquiring an additional 1,361 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Elanco Animal Health during the 3rd quarter worth $29,000. nVerses Capital LLC acquired a new position in Elanco Animal Health during the 2nd quarter worth about $32,000. ORG Partners LLC bought a new stake in shares of Elanco Animal Health in the 2nd quarter valued at about $31,000. Finally, AM Squared Ltd bought a new stake in shares of Elanco Animal Health in the 3rd quarter valued at about $34,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Elanco Animal Health Stock Performance

Shares of ELAN opened at $12.25 on Thursday. Elanco Animal Health Incorporated has a one year low of $11.40 and a one year high of $18.80. The company has a market cap of $6.06 billion, a PE ratio of 30.63, a P/E/G ratio of 1.41 and a beta of 1.41. The stock has a 50-day moving average of $13.52 and a 200-day moving average of $14.55. 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 (NYSE:ELAN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 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 during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 EPS for the current fiscal 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.