Ionic Capital Management LLC Makes New $2.33 Million Investment in Elanco Animal Health Incorporated (NYSE:ELAN)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Elanco Animal Health by 337.7% in the 2nd 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 in the last quarter. ORG Wealth Partners LLC acquired a new position in Elanco Animal Health in the third quarter valued at about $29,000. ORG Partners LLC bought a new stake in Elanco Animal Health during the 2nd quarter valued at approximately $31,000. nVerses Capital LLC bought a new position in Elanco Animal Health in the second quarter worth about $32,000. Finally, AM Squared Ltd purchased a new stake in shares of Elanco Animal Health during the third quarter worth approximately $34,000. Institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elanco Animal Health Stock Up 2.0 %

Shares of ELAN stock opened at $13.48 on Tuesday. Elanco Animal Health Incorporated has a twelve month low of $11.40 and a twelve month high of $18.80. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 1.38 and a beta of 1.41. The stock’s 50 day simple moving average is $13.57 and its 200 day simple moving average is $14.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.31 and a current ratio of 2.55.

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