Philadelphia Trust Co. Trims Stake in Elanco Animal Health Incorporated (NYSE:ELAN)

Key Points

• Philadelphia Trust Co. has reduced its stake in Elanco Animal Health by 27.4%, owning 230,896 shares valued at approximately $2.42 million after selling 87,334 shares.
• Several hedge funds have increased their stakes in Elanco, with notable growth from Envestnet Asset Management increasing its stake by 53.5% last quarter, now holding 211,904 shares worth about $2.57 million.
• Elanco reported $1.24 billion in revenue for the latest quarter, exceeding expectations, and its earnings per share was $0.26, surpassing analyst predictions of $0.20.

Philadelphia Trust Co. reduced its stake in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 27.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,896 shares of the company's stock after selling 87,334 shares during the period. Philadelphia Trust Co.'s holdings in Elanco Animal Health were worth $2,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ELAN. Envestnet Asset Management Inc. grew its stake in Elanco Animal Health by 53.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 211,904 shares of the company's stock worth $2,566,000 after acquiring an additional 73,838 shares in the last quarter. Invesco Ltd. grew its stake in Elanco Animal Health by 10.6% in the 4th quarter. Invesco Ltd. now owns 536,391 shares of the company's stock worth $6,496,000 after acquiring an additional 51,233 shares in the last quarter. Sterling Capital Management LLC grew its stake in Elanco Animal Health by 56.7% in the 4th quarter. Sterling Capital Management LLC now owns 29,414 shares of the company's stock worth $356,000 after acquiring an additional 10,647 shares in the last quarter. Mariner LLC grew its stake in Elanco Animal Health by 79.6% in the 4th quarter. Mariner LLC now owns 56,193 shares of the company's stock worth $680,000 after acquiring an additional 24,901 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC grew its stake in Elanco Animal Health by 3.4% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 2,706,225 shares of the company's stock worth $32,772,000 after acquiring an additional 89,031 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

Elanco Animal Health Trading Down 0.2%

NYSE ELAN opened at $17.97 on Friday. The company has a fifty day simple moving average of $14.73 and a two-hundred day simple moving average of $12.27. The stock has a market cap of $8.93 billion, a P/E ratio of 20.90, a P/E/G ratio of 3.34 and a beta of 1.66. Elanco Animal Health Incorporated has a 12-month low of $8.02 and a 12-month high of $18.08. The company has a current ratio of 2.60, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. Elanco Animal Health had a net margin of 9.68% and a return on equity of 7.04%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. On average, analysts forecast that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ELAN. Piper Sandler increased their price objective on shares of Elanco Animal Health from $12.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Leerink Partnrs upgraded shares of Elanco Animal Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 17th. UBS Group increased their price objective on shares of Elanco Animal Health from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, August 8th. William Blair upgraded shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Finally, Leerink Partners upgraded shares of Elanco Animal Health from a "market perform" rating to an "outperform" rating and set a $18.00 target price for the company in a research note on Thursday, July 17th. Two research 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 stock. According to data from MarketBeat, Elanco Animal Health has an average rating of "Moderate Buy" and a consensus target price of $17.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.