Nuveen LLC Takes $115.21 Million Position in Elanco Animal Health Incorporated (NYSE:ELAN)

Key Points

• Nuveen LLC made a significant investment in Elanco Animal Health, acquiring approximately 10.97 million shares worth about $115.2 million, which represents 2.21% ownership of the company.
• Elanco's recent earnings report showed an EPS of $0.26, exceeding analyst expectations and representing a 4.8% increase in revenue year-over-year.
• Analysts have revised their price targets for Elanco, with a consensus price target of $17.33, indicating positive sentiment towards the stock with several upgrades from various research firms.

Nuveen LLC purchased a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,972,587 shares of the company's stock, valued at approximately $115,212,000. Nuveen LLC owned 2.21% of Elanco Animal Health as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in ELAN. Allworth Financial LP grew its position in Elanco Animal Health by 791.7% during the first quarter. Allworth Financial LP now owns 2,354 shares of the company's stock valued at $25,000 after buying an additional 2,090 shares during the period. CoreCap Advisors LLC bought a new position in shares of Elanco Animal Health during the 4th quarter worth $29,000. NBC Securities Inc. bought a new position in shares of Elanco Animal Health during the 1st quarter worth $40,000. Parallel Advisors LLC grew its stake 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 worth $41,000 after acquiring an additional 1,852 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Elanco Animal Health by 65.9% during the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock worth $46,000 after acquiring an additional 1,740 shares during the period. Institutional investors own 97.48% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ELAN. Stifel Nicolaus increased their price target 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. Leerink Partners upgraded 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. UBS Group increased their price target on Elanco Animal Health from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. William Blair upgraded Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Finally, Leerink Partnrs upgraded Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elanco Animal Health has a consensus rating of "Moderate Buy" and an average target price of $17.33.

Elanco Animal Health Price Performance

NYSE ELAN traded down $0.03 during trading hours on Friday, hitting $17.97. The company had a trading volume of 6,846,893 shares, compared to its average volume of 6,071,275. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $18.08. The firm has a 50 day simple moving average of $14.73 and a 200 day simple moving average of $12.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 2.60. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.33 and a beta of 1.66.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Elanco Animal Health had a return on equity of 7.04% and a net margin of 9.68%. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. Equities research analysts expect 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.