Ionic Capital Management LLC Buys New Shares in Elanco Animal Health Incorporated (NYSE:ELAN)

Ionic Capital Management LLC purchased a new stake in shares of Elanco Animal Health Incorporated (NYSE:ELAN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 158,597 shares of the company’s stock, valued at approximately $2,330,000.

Other hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in Elanco Animal Health by 337.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,764 shares of the company’s stock valued at $26,000 after buying an additional 1,361 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Elanco Animal Health during the third quarter worth about $29,000. ORG Partners LLC purchased a new stake in Elanco Animal Health during the second quarter valued at about $31,000. nVerses Capital LLC bought a new position in Elanco Animal Health in the 2nd quarter worth $32,000. Finally, AM Squared Ltd bought a new position in shares of Elanco Animal Health during the third quarter valued at $34,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Leerink Partnrs raised shares of Elanco Animal Health to a “hold” rating in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective on shares of Elanco Animal Health in a research report on Thursday, September 19th. Morgan Stanley downgraded shares of Elanco Animal Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $17.00 to $15.00 in a research note on Thursday, September 19th. Leerink Partners began coverage on shares of Elanco Animal Health in a research report on Monday. They issued a “market perform” rating and a $14.00 price objective on the stock. Finally, Barclays increased their price target on Elanco Animal Health from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Elanco Animal Health presently has a consensus rating of “Hold” and an average target price of $16.75.

Elanco Animal Health Price Performance

Shares of NYSE ELAN opened at $13.48 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $13.57 and a two-hundred day moving average of $14.61. Elanco Animal Health Incorporated has a twelve month low of $11.40 and a twelve month high of $18.80. The stock has a market cap of $6.66 billion, a P/E ratio of 33.69, a P/E/G ratio of 1.38 and a beta of 1.41.

Elanco Animal Health (NYSE:ELAN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Elanco Animal Health had a net margin of 4.60% and a return on equity of 6.78%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, research analysts forecast 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.