Federated Hermes Inc. Boosts Holdings in Elanco Animal Health Incorporated (NYSE:ELAN)

Key Points

• Federated Hermes Inc. increased its stake in Elanco Animal Health by 5.3% in the first quarter, owning approximately 0.44% of the company valued at $22.74 million after buying 108,277 shares.
• Analysts have upgraded Elanco's stock ratings, with UBS Group raising its price target from $17.00 to $18.00 and several other firms issuing buy ratings, contributing to a consensus target price of $16.17.
• Elanco reported a quarterly earnings per share (EPS) of $0.37, exceeding analyst expectations of $0.31, with a revenue of $1.19 billion compared to the estimated $1.17 billion.

Federated Hermes Inc. boosted its holdings in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,165,755 shares of the company's stock after purchasing an additional 108,277 shares during the period. Federated Hermes Inc. owned 0.44% of Elanco Animal Health worth $22,740,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ELAN. Graypoint LLC grew its stake in shares of Elanco Animal Health by 4.9% during the 1st quarter. Graypoint LLC now owns 26,845 shares of the company's stock worth $282,000 after acquiring an additional 1,256 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in Elanco Animal Health by 5.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 29,414 shares of the company's stock valued at $309,000 after purchasing an additional 1,576 shares during the last quarter. Freedom Investment Management Inc. boosted its holdings in Elanco Animal Health by 9.1% in the 4th quarter. Freedom Investment Management Inc. now owns 20,746 shares of the company's stock valued at $251,000 after purchasing an additional 1,725 shares during the period. Versant Capital Management Inc lifted its position in Elanco Animal Health by 65.9% during the first quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock worth $46,000 after purchasing an additional 1,740 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in shares of Elanco Animal Health by 4.0% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 45,489 shares of the company's stock valued at $478,000 after buying an additional 1,761 shares during the period. 97.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ELAN has been the subject of several analyst reports. Leerink Partners raised shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price target for the company in a research note on Thursday, July 17th. Leerink Partnrs upgraded Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 17th. UBS Group upped their price target on shares of Elanco Animal Health from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Stifel Nicolaus raised their target price on Elanco Animal Health from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, William Blair upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating in a report on Thursday, June 26th. 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. According to data from MarketBeat.com, Elanco Animal Health currently has an average rating of "Moderate Buy" and a consensus price target of $16.17.

Elanco Animal Health Stock Up 0.6%

ELAN stock traded up $0.09 during midday trading on Tuesday, reaching $14.16. 2,300,930 shares of the company's stock traded hands, compared to its average volume of 5,276,912. 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 firm's fifty day moving average price is $14.16 and its 200-day moving average price is $11.99. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $15.78. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 2.68 and a beta of 1.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. Elanco Animal Health had a net margin of 8.43% and a return on equity of 7.54%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The business's revenue was down 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

About Elanco Animal Health

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.