Envestnet Asset Management Inc. Has $2.82 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Elanco Animal Health by 26.8% during the first quarter, owning 268,791 shares valued at approximately $2.82 million.
• Elanco Animal Health reported earnings of $0.37 per share, exceeding analysts' expectations of $0.31, with a revenue of $1.19 billion for the quarter.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $16.17.

Envestnet Asset Management Inc. grew its position in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 26.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 268,791 shares of the company's stock after buying an additional 56,887 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of Elanco Animal Health worth $2,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new stake in shares of Elanco Animal Health during the fourth quarter valued at approximately $29,000. NBC Securities Inc. bought a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $40,000. Parallel Advisors LLC grew its stake in shares of Elanco Animal Health by 92.2% during the first 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 during the last quarter. Versant Capital Management Inc grew its stake in shares of Elanco Animal Health by 65.9% during the first quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock valued at $46,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Wealthquest Corp bought a new stake in shares of Elanco Animal Health during the first quarter valued at approximately $56,000. 97.48% of the stock is owned by institutional investors.

Elanco Animal Health Trading Down 0.3%

Shares of NYSE ELAN traded down $0.05 during midday trading on Thursday, reaching $14.08. 847,830 shares of the stock were exchanged, compared to its average volume of 5,266,556. The business has a 50-day simple moving average of $14.09 and a two-hundred day simple moving average of $11.95. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 2.81 and a beta of 1.67. Elanco Animal Health Incorporated has a 12 month low of $8.02 and a 12 month high of $15.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.71 and a quick ratio of 1.46.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group increased 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 note on Wednesday, July 23rd. Wall Street Zen raised shares of Elanco Animal Health from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Leerink Partnrs raised shares of Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. Stifel Nicolaus raised their price objective on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Leerink Partners raised shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research note on Thursday, July 17th. 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.17.

Elanco Animal Health Company 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.