Hedeker Wealth LLC Acquires 4,512 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Hedeker Wealth LLC grew its holdings in Elanco Animal Health Incorporated (NYSE:ELAN) by 3.5% during the 4th quarter, HoldingsChannel reports. The firm owned 133,776 shares of the company’s stock after purchasing an additional 4,512 shares during the quarter. Hedeker Wealth LLC’s holdings in Elanco Animal Health were worth $1,620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Private Management Group Inc. boosted its holdings in shares of Elanco Animal Health by 63.4% during the 4th quarter. Private Management Group Inc. now owns 2,357,142 shares of the company’s stock valued at $28,545,000 after acquiring an additional 914,808 shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in shares of Elanco Animal Health during the 4th quarter valued at $152,000. Jennison Associates LLC boosted its holdings in shares of Elanco Animal Health by 1.4% during the 4th quarter. Jennison Associates LLC now owns 1,095,710 shares of the company’s stock valued at $13,269,000 after acquiring an additional 15,246 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Elanco Animal Health by 107.4% during the 4th quarter. Spire Wealth Management now owns 7,776 shares of the company’s stock valued at $94,000 after acquiring an additional 4,026 shares in the last quarter. Finally, Institute for Wealth Management LLC. boosted its holdings in shares of Elanco Animal Health by 11.5% during the 4th quarter. Institute for Wealth Management LLC. now owns 35,516 shares of the company’s stock valued at $430,000 after acquiring an additional 3,656 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays raised their price objective on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Leerink Partners initiated coverage on Elanco Animal Health in a report on Monday, December 2nd. They set a “market perform” rating and a $14.00 price objective on the stock. Stifel Nicolaus cut their target price on Elanco Animal Health from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley cut their target price on Elanco Animal Health from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, UBS Group initiated coverage on Elanco Animal Health in a report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.29.

Elanco Animal Health Stock Down 0.5 %

Shares of NYSE:ELAN opened at $11.97 on Friday. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 2.71 and a beta of 1.42. 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 business’s 50-day moving average is $12.08 and its 200-day moving average is $13.21. Elanco Animal Health Incorporated has a 1 year low of $11.11 and a 1 year high of $18.80.

Elanco Animal Health (NYSE:ELAN) last announced its quarterly earnings data 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 company 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%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share 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.