Oppenheimer Asset Management Inc. Increases Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Oppenheimer Asset Management Inc. grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 81.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,193 shares of the company’s stock after acquiring an additional 14,902 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Elanco Animal Health were worth $488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ELAN. Canada Pension Plan Investment Board bought a new position in Elanco Animal Health in the 2nd quarter worth $55,599,000. Magnetar Financial LLC grew its stake in shares of Elanco Animal Health by 61.2% during the 2nd quarter. Magnetar Financial LLC now owns 8,336,657 shares of the company’s stock valued at $120,298,000 after acquiring an additional 3,164,350 shares during the period. Assenagon Asset Management S.A. increased its holdings in Elanco Animal Health by 363.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,548,506 shares of the company’s stock worth $22,748,000 after acquiring an additional 1,214,123 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Elanco Animal Health during the 2nd quarter worth approximately $16,043,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Elanco Animal Health by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,139,018 shares of the company’s stock valued at $360,425,000 after purchasing an additional 852,281 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Activity

In related news, Director Michael J. Harrington purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average price of $14.85 per share, for a total transaction of $51,975.00. Following the acquisition, the director now owns 81,094 shares of the company’s stock, valued at approximately $1,204,245.90. This represents a 4.51 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ELAN shares. Morgan Stanley cut shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Barclays upped their price objective on 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, Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Elanco Animal Health in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.14.

Elanco Animal Health Stock Performance

NYSE ELAN opened at $13.31 on Wednesday. The stock has a market capitalization of $6.58 billion, a PE ratio of 33.28, a P/E/G ratio of 1.46 and a beta of 1.41. Elanco Animal Health Incorporated has a 1-year low of $11.40 and a 1-year high of $18.80. The business has a 50 day simple moving average of $13.76 and a two-hundred day simple moving average of $14.77. 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 posted its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. Elanco Animal Health’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. On average, 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.