Illinois Municipal Retirement Fund Has $3.49 Million Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Illinois Municipal Retirement Fund cut its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 11.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,262 shares of the company's stock after selling 44,000 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.07% of Elanco Animal Health worth $3,489,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hillsdale Investment Management Inc. grew its position in shares of Elanco Animal Health by 2.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 43,300 shares of the company's stock valued at $524,000 after purchasing an additional 900 shares during the last quarter. Arizona State Retirement System raised its stake in Elanco Animal Health by 0.8% in the 4th quarter. Arizona State Retirement System now owns 143,462 shares of the company's stock worth $1,737,000 after purchasing an additional 1,166 shares in the last quarter. Freedom Investment Management Inc. raised its stake 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 worth $251,000 after purchasing an additional 1,725 shares in the last quarter. Versant Capital Management Inc boosted its holdings 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 purchasing an additional 1,740 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Elanco Animal Health by 4.0% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 45,489 shares of the company's stock worth $478,000 after purchasing an additional 1,761 shares during the period. Institutional investors and hedge funds own 97.48% of the company's stock.

Elanco Animal Health Trading Up 1.7%

NYSE:ELAN traded up $0.24 during mid-day trading on Wednesday, hitting $14.67. 2,730,311 shares of the company's stock were exchanged, compared to its average volume of 5,087,334. Elanco Animal Health Incorporated has a fifty-two week low of $8.02 and a fifty-two week high of $15.78. The company has a current ratio of 2.71, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $7.29 billion, a P/E ratio of 19.75, a PEG ratio of 2.80 and a beta of 1.68. The company has a 50 day simple moving average of $12.62 and a 200-day simple moving average of $11.54.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. Elanco Animal Health's revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ELAN. Stifel Nicolaus boosted their target price on shares of Elanco Animal Health from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler lowered their price objective on shares of Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, William Blair upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.33.

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.