Victory Capital Management Inc. Raises Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Victory Capital Management Inc. increased its position in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 138.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,338 shares of the company's stock after purchasing an additional 157,708 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Elanco Animal Health worth $2,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Elanco Animal Health by 791.7% during the 1st quarter. Allworth Financial LP now owns 2,354 shares of the company's stock valued at $25,000 after purchasing an additional 2,090 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of Elanco Animal Health during the 4th quarter valued at about $29,000. NBC Securities Inc. bought a new position in shares of Elanco Animal Health during the 1st quarter valued at about $40,000. Parallel Advisors LLC lifted its holdings in shares of Elanco Animal Health by 92.2% during the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock valued at $41,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Elanco Animal Health by 65.9% in the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock valued at $46,000 after acquiring an additional 1,740 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ELAN shares. Wall Street Zen upgraded Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. William Blair raised Elanco Animal Health from a "market perform" rating to an "outperform" rating in a report on Thursday, June 26th. Leerink Partnrs raised Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 17th. Leerink Partners raised Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a report on Thursday, July 17th. Finally, UBS Group increased their price objective on shares of Elanco Animal Health from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.17.

Elanco Animal Health Trading Up 0.4%

ELAN traded up $0.06 during trading on Friday, hitting $13.74. The company's stock had a trading volume of 1,448,356 shares, compared to its average volume of 5,272,542. Elanco Animal Health Incorporated has a twelve month low of $8.02 and a twelve month high of $15.78. The company has a quick ratio of 1.46, a current ratio of 2.71 and a debt-to-equity ratio of 0.68. The stock's fifty day moving average price is $14.11 and its 200-day moving average price is $11.96. The firm has a market capitalization of $6.82 billion, a P/E ratio of 18.56, a PEG ratio of 2.75 and a beta of 1.67.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Elanco Animal Health had a return on equity of 7.54% and a net margin of 8.43%. The company's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. Analysts anticipate 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.